Update on EnkhtuvshinEnkhtuvshin, 27 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has been running a grocery store since 2011 and has accumulated a vast amount of experience in this field. His acumen, charisma and politeness have helped him to stabilize his business by attracting customers even though the store is not located in a good location. In order to generate more income for his family, he wants to increase the circulating capital of his grocery store. So he is requesting a loan of 3,400,000 MNT to purchase foodstuffs in large quantities. As a result, he can continue to run his grocery store without worrying about an inventory shortage. The borrower is a very hardworking individual who strives for a better future. Also during his free time, he renders taxi service to local people using his automobile.
Previous Loan DetailsMr. Enkhtuvshin, 26, operates a grocery store in a boundary district of Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his child in the ger district, an area of nomadic Mongolian traditional yurts and houses. His family owns an old and small house which was built many yea... More from Enkhtuvshin'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