Update on SainjargalSainjargal is 31 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia.
Sainjargal has been working as a sales manager since 2012. His wife is currently unemployed and stays at home looking after their infant. He is requesting a loan of 5,000,000 (MNT) to buy a plot of land. The land will be used for growing vegetables, breeding domestic animals, and building his dream house. The borrower is a very hardworking individual who strives for better future.
Previous Loan DetailsSainjargal, 30 years old, lives with his wife and child in Ulaanbaatar, the capital city of Mongolia. He has been working as sales manager in Ulaanbaatar. Winter is coming to Mongolia and he wants to install a low pressure heater into his house for heating it. He is requesting a loan of 2,000,000... More from Sainjargal'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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