Update on NerguiMrs. Nergui, 53 years old, lives alone in Ulaanbaatar, the capital city of Mongolia. She resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. She has been making and selling metal nails to local people since 2002.
Using her previous loan, she imported metal from China and it greatly increased her profit. So she decided to import metal again from China and for this cause she is requesting a loan of 3,500,000 MNT. As a result, she can invest in her children's education. The borrower is one of our most reliable clients as she paid each installment without any delay in her ongoing credit history.
Previous Loan DetailsNergui, 52 years old, lives with her daughter in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. Her two sons are now working in the countryside. Nergui has been running a construction materials sales busines... More from Nergui'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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