Mandakh's Buleg Group
Mandakh has been supporting her family by operating a felt manufacturing business since 2004. She usually sews felt sandals and souvenirs and sells them at a local indoor market. During the summer time there are many tourists in Mongolia and they are really overjoyed to buy traditional felt souvenirs and sandals.
Mandakh wants to expand her business in order to increase her working capital during the tourist season in Mongolia. So she is requesting a 1,000,000 MNT (Mongolian Tugriks) loan to purchase raw materials to make more products.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid