Update on RadnaabazarRadnaabazar is 61 years old and lives with her husband in a ger (a Mongolian yurt) in Arhangai Province, Mongolia. Her husband is a retired old man, and her kids are all independent. She started her business in 1998 by renting a counter in a market. Her product range is broad, and she is well respected in the market. Now that her kids are grown, she wants to concentrate on her business. She already rented an additional counter in a market. However, her supplies are not sufficient to run a whole business. She is a sharp and hardworking woman who says, "My business served me well. My kids are educated and my family is healthy. However, my income has been the same since I started, so I want to expand it." She is requesting 1,200,000 Mongolian tugriks (MNT) to purchase more curds.
Previous Loan DetailsRadnaabazar R. is a 60-year-old woman who lives with her husband in the Arhangai province of central Mongolia. Her family lives together in a ger, a traditional Mongolian nomadic tent. Radnaabazar operates a dairy retail business with the help of her husband. She began her business in 1998 wit... More from Radnaabazar's previous loan »
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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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