Update on ByambadorjByambadorj is a 34-year-old married man who lives with his family in the outer ger district of Ulaanbaatar city, Mongolia (an area that lacks basic infrastructure). He supports his family by operating a clothing sale business at the largest outdoor market in Mongolia.
His wife helps him, while their elder son attends local primary school and their cousin babysits their daughter. Now, Byambadorj has 2.9 million Mongolian Tugriks (MNT) in working capital. He usually sells men's and women's clothes and blankets. In July, Mongolians celebrate the great traditional holiday Naadam, so Byambadorj needs more clothes to sell for the upcoming holiday.
Previous Loan DetailsByambadorj is a 34-year-old married man who lives with his family in the outer ger district of Ulaanbaatar city, Mongolia (an area that lacks basic infrastructure). He supports his family by operating a clothing sale business at the largest outdoor market in Mongolia. His wife helps him, whil... More from Byambadorj's previous loan »
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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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