Update on NandintsetsegMrs. Nandintsetseg, 31, lives with her husband and her son in a rental apartment in Darkhan, the second largest city in Mongolia. She is a teacher at a secondary school and has been working for five years nonstop.
Her rental apartment has too much heat loss and emissions in the winter. She uses the furnace, which uses coal, just to stay warm at home. Her son always has flu due to the cold. So she wanted to make repairs to her apartment. She is planning to insulate the windows and the wall corners. She will recover some broken and bad parts of the walls with cement and foam. It will reduce the heat loss, and she will pay less for coal. Using the coal is very harmful for her family's health and the environment, as she knows.
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 (-40F), even in the cities. Also, in winter, many parts of the country are extremely cold and are known to have snowstorms. 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. As well, the extremely toxic smoke from the cars is one of the main reasons for Mongolian 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 the cars that run on the natural gas. The loan she is taking will be dedicated to buying some building and insulation materials for her home repair.
Previous Loan DetailsMrs. Nandintsetseg, 31, is a secondary school teacher in Darkhan, the second largest city in Mongolia. She has been teaching in the school for five years and lives with her family in a common apartment. Nandintsetseg wants to make renovations to the apartment because it is old and needs window in... More from Nandintsetseg'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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