We Support Kiva
Spark Productions is currently supporting Tsereenjav Norovsambuu. He is 28 years old and lives with his wife and two sons in the Uvs province of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent, wihtin his brother’s fence.
Tseveenjav and his wife both operate a taxi service in their town using their own car. He began his taxi business after working and living as a herder in the countryside for several years.
Today, their daily business earnings exceed 25,000 Mongolian tugriks (MNT). For the future, he plans to sell his small car and buy a larger truck at 2,000,000 MNT with 1.5 tons of capacity in order to start operating a transportation business to increase his profits.
He has used his earnings to improve his family’s standard of living. Tseveenjav is a modest man and says, “I plan to pay off this loan fully on time and buy my own plot of land and fence for my family.”
He is requesting a 1,000,000 MNT loan for half of the vehicle’s price in order to purchase a truck.
Over the 24 months of this loan, Kiva’s Field Partner in Mongolia, XacBank, will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website:
http://www.kiva.org/lend/261575
DATE: 3/3/2011D
“Tseveenjav thanks all his Kiva lenders for helping to support his business. He received a 1,000,000 MNT loan from XacBank, Kiva’s Mongolian partner, MFI, in December, 2010. Tseveenjav requested this loan to buy a new truck for his transportation business. He used the loan as he requested. Now his brother is driving his new truck and they share the income. Tseveenjav has recently bought new tires for his small car and bought a new LCD TV for his home. Thank to the loan his income has increased.”
Kiva’s mission is to connect people, through lending, for the sake of alleviating poverty.
Kiva empowers individuals to lend to an entrepreneur across the globe. By combining microfinance with the internet, Kiva is creating a global community of people connected through lending.
Kiva was born of the following beliefs:
People are by nature generous, and will help others if given the opportunity to do so in a transparent, accountable way.
The poor are highly motivated and can be very successful when given an opportunity.
By connecting people we can create relationships beyond financial transactions, and build a global community expressing support and encouragement of one another.
Kiva promotes:
Dignity: Kiva encourages partnership relationships as opposed to benefactor relationships. Partnership relationships are characterized by mutual dignity and respect.
Accountability: Loans encourage more accountability than donations where repayment is not expected.
Transparency: The Kiva website is an open platform where communication can flow freely around the world.
