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Baasankhuu

Update on Baasankhuu

Mrs. Baasankhuu, 52, sells vegetables and some kinds of groceries. She lives with her husband and four children in the ger (Mongolian housing tents) district, an area of the city with no running water, minimal roads and spotty electricity, in Ulaanbaatar, the capital city of Mongolia. She has been running her business for over a decade, and she has gained a lot of experience from her business. In the rural area, her family rents a 1-hectare plot of land, and they plant all kinds of vegetables there for her to sell to the customers.

This year, Baasankhuu wants to plant cabbage in a large amount. First, she needs to buy the seeds of cabbage and organic fertilizer for it. As we know, cabbage is a very healthy and vitamin-containing vegetable. Most Mongolians prefer to use it every day, so she decided to sell cabbages to her customers. Also, she needs to renovate her equipment and tools of the irrigation system. She and her family hope that their customers will appreciate the cabbages they sell to them. The loan she is taking will be dedicated to covering the cost of cabbage seeds, organic fertilizer and new irrigation equipment.

Previous Loan Details

Baasankhuu is 51 years old, lives with her husband and four children in Ulaanbaatar, the capital city of Mongolia. They all live together in small wooden house on their land. Her 3 older daughters have graduated secondary school and are unemployed at the moment. They help their mother with her ... More from Baasankhuu'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 Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,325.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Baasankhuu to cover the cost of cabbage seeds, organic fertilizer and new irrigation equipment.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 11, 2012
Listed
Jun 25, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013