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Enkhbat

Update on Enkhbat

Enkhbat now needs some money to expand his workshop and renovate some of his service equipment. These changes are beneficial to his business future.

The loan Enkhbat is taking will be used to purchase new equipment for his auto service and some building materials to make workshop renovations.

Previous Loan Details

Enkhbat is 30 years old, lives with his wife and 2 infant children in a ger, a traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia. His wife looks after their children at home. They don’t own land, therefore he works as a keeper of someone’s land, and lives there free... More from Enkhbat's previous loan »

Additional Information

About Credit Mongol

Credit 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.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Enkhbat to purchase the new equipment for his auto service and some building materials to make workshop renovations.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2011
Listed
Nov 19, 2011
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013
This photo was used before for a previous loan for Enkhbat. It was first posted on Kiva on Oct, 2010. Learn More