Update on MendsurenMendsuren is 37 years old and lives with her husband and three children, who range in age from 11 to 16, in Ulaanbaatar, the capital of Mongolia. Her family lives in a small house in the outer districts of the city, and her children attend public school while her husband works as a sergeant at a local group of soldiers. Mendsuren supports her family by selling clothing at two retail stalls in the largest outdoor market in Mongolia. She began her business in 2002, and it has grown so that today she has 2,100,000 Mongollian Tugriks (MNT) in working capital. Because she has successfully expanded her business, she has also been able to improve her family's living conditions. She bought a car for her husband in 2008 and built her small house in 2009 with the money she earns at work. She is requesting a loan for 2,000,000 MNT to buy a variety of fall clothes from Beijing, China.
Previous Loan DetailsMendsuren is 36 years old and lives with her husband and three children, aged between 10 and 15, in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house, in the outer districts of the city. Her children attend public school. Her husband works as a top sergeant at a local s... More from Mendsuren'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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