Update on ShinebayarMrs. Shinebayar, 28 years old, lives with her daughter in Ulaanbaatar, the capital city of Mongolia. She learned Vietnamese by befriending Vietnamese students, and it helped her to work as a manager in Vietnamese-invested company.
By 2005, she had worked there for five years, and in 2010, she opened her own auto repair shop; it has been operating quite well over the last few years.
Her daughter is only five years old, and she lives with her in an apartment, along with her two Vietnamese workers.
In order to expand her business, she is hiring one more person from Vietnam, and needs several necessary pieces of equipment. So she is requesting a loan of 2,500,000 MNT to purchase some necessary items such as paints, mastics and equipment.
As a result, she can generate more income, and can invest in her little daughter’s future needs.
Previous Loan DetailsMrs. Shinebayar is a 26-year-old, and is host of a Vietnam auto-repair service. She lives with her daughter in a rental apartment in Ulaanbaatar, the capital city of Mongolia. When she was a student, she was introduced to, and became friends with, some Vietnam guys. She started her business with... More from Shinebayar's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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