Update on EnkhchimegMrs. Enkhchimeg, 33 years old, lives with her husband and two children in Ulaanbaatar, capital city of Mongolia. She and her husband have been growing vegetables and other crops since 2010 and have accumulated a vast amount of experience in this field. She is requesting a loan of 3,500,000 MNT to buy truck spare parts and some agriculture spare parts. She is preparing for growing vegetables early this spring as soon as it gets warmer outside. Now the only family income source is their agricultural business, so she and her husband are investing all their effort in it. The borrower is a very hardworking individual who usually works at their farm site without any rest all day long.
Previous Loan DetailsMrs. Enkhchimeg, 33 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She and her husband have been growing vegetables and crops since 2010. Before this, she used to work as accountant. Her elder son studies at high-school and her younger son stays a... More from Enkhchimeg's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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