Update on PurevjavPurevjav, age 26, operates a cellphone and cellphone parts sales business out of a rented stall in the local trade center in Ulaanbaatar, the capital city of Mongolia. He started his business in 2008 and has made much progress with his endeavor.
Purevjav lives with his wife and their two-year-old baby daughter in Ulaanbaatar. He graduated from the Agricultural University of Mongolia in 2007, with a bachelor's degree in Plant Quarantine Inspection. His wife works as a local broker dealer, so Purevjav's younger sister still babysits their daughter during the day. Purevjav is a young man who is striving to make a great success in his life and live happily with his family.
He is requesting a 2,300,000 MNT (Mongolian Tugriks) loan in order to purchase more mobile phones and spare parts.
Previous Loan DetailsPurevjav, age 25, operates a cell-phone and cell-phone parts sales business out of a rented stall in the local trade center in Ulaanbaatar, the capital city of Mongolia. He started his business in 2008 and has made much progress with his endeavor. Purevjav lives with his wife and their two-ye... More from Purevjav'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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Success!! The loan was 100% repaid