Update on Ariun-EnhAriun-Enh is 36 years old and lives with his wife and two children in a ger (traditional nomadic yurt house) in Uvurhangai province, Mongolia. His wife Monhzul knits and tailors clothes and small accessories cases which are beautifully embroidered by hand. His two children study at local schools.
Ariun-Enh used to work at a big silver and gold jewelry manufacturing company for years since 2002. He started his own business in a rental workplace in the local market in 2008. He has built his reputation by providing the best service with qualified products to local clients. He has improved his skills over the years and now crafts a variety of products with custom-made designs.
He is now requesting loan of 3,150,000 MNT to purchase silver and gold to meet customers' orders on time. This time of the year is the high season for him because the Lunar New Year is coming and he receives more orders now than at any other time.
Previous Loan DetailsAriun-Enh M. is 33 years old and lives with his wife and two children in the Uvurhangai province in central Mongolia. They live together in a "ger," a traditional Mongolian nomadic tent. His oldest son attends a local secondary school while his youngest daughter is in kindergarten. His wife works... More from Ariun-Enh's previous loan »
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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