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Update on Gurragchaa

Gurragchaa wanted to renovate his ger, a traditional Mongolian nomadic tent. The things he would like to renovate include the floor, cover, and other small parts. Because these parts have been becoming old and out of usage. Also heat-loss happens through the undressed warm cover of ger. It increases the usage of coal fuel which raises extremely poisonous air all around of city. During last few years it has been one of biggest and essential issue in Mongolians. After the making the insulation to his ger, coal usage will be decreased notably as he planned. The loan he is taking will be dedicated to purchase some parts of ger such as warm cover for his home renovation. It will improve his living conditions.

Previous Loan Details

Gurragchaa is 30 years old and lives with his wife and three children in Ulaanbaatar, the capital of Mongolia. They all live together in a traditional Mongolian nomadic tent on his sister’s plot of land. Gurragchaa’s wife is a waitress at café. Two of the couple’s children attend the local second... More from Gurragchaa's previous loan »

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,437,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Gurragchaa to purchase some parts of ger such as warm cover for his home renovation.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 3, 2012
Jan 9, 2012
Currency Exchange Loss:
Apr 25, 2012