Update on EnkhtuyaMrs. Enkhtuya, age 43, has been running a stall for 12 years behind a bus station in Ulaanbaatar, the capital city of Mongolia. She has gained a lot of experience and dexterity in her business. She lives with her husband and her son in an area of the city that has no running water, minimal roads and spotty electricity.
Mrs. Enkhtuya owns a house that was built in the early 1990s and has never undergone repairs or renovations. In the last several years, the poor insulation has caused heat loss and emissions trough the house's walls and windows. This causes her to spend too much money on smoky coal to warm her home in the winter time.
Also, Mrs. Enkhtuya thinks using coal is very harmful to the environment, especially due to air pollution. This is why she wants to insulate her house. Now she needs some money to buy the building materials such as the foam, cement, bricks and rock wool for wall insulation. She is planning to do it within the summer months.
Although Mongolia has the lowest population density in the world, it is one of the most polluted countries in the world. This is due to the long and cold winters where temperatures frequently go below -40C, even in the cities. Also, in winter, many parts of the country are extremely cold and are known to have snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from families just trying to stay warm. Additionally, the extremely toxic smoke from cars is one of the main reasons for Mongolian hard air pollution. In response to this, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss, improve heating systems and buy cars that use less gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health. The loan she is requesting will be used to buy some building materials to insulate her house.
Previous Loan DetailsMrs. Enkhtuya is 43 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. Her family live in the house which they built two years ago using a loan which was taken from our MFI. The loan was successfully repaid on time. Mrs.Enkhtuya has been runnin... More from Enkhtuya's previous loan »
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 MongolCredit 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.
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