Update on DarisurenDarisuren is 49 years old and lives with her husband in western Mongolia. Her husband works as an inspector at the power station. Their son studies at the university in the capital city. She has been running a meat and livestock retailing business for 12 years. During this time, she was able to improve her family income and pay for the college expenses of her daughter. Based on her experience, she would like to extend her business by purchasing a large amount of meat and livestock in this winter. She will be able to sell more because the biggest festival in Mongolia is about to happen. Darisuren is a hardworking and clever woman who says that "I would like to extend my business activities to improve my household income and buy an apartment for the family". The total amount she is requesting is 2,500,000 MNT to buy meat at wholesale prices.
Previous Loan DetailsDarisuren E., 47 years old, lives with her husband and children in the Hovd province of Mongolia. Her husband works as an inspector at the local power station and her son attends university. Darisuren operates a meat and livestock trading business in her town. She started her business in 2000 and... More from Darisuren'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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