Update on BatsaikhanBatsaikhan, 38, has run a freight transportation business since 2007 nonstop. In 2010, he renovated his mini truck and he plans to continue his business normally in the future. There are four people in his family: he lives with his wife and his two children, a boy and a girl. His wife works as a teacher in the kindergarten and her salary is low.
Since last year, Batsaikhan has been rebuilding his house and there is still some work to be done to finish it completely. Due to a shortage of money, he has not been replaced the floor, window sills, or wall paper, etc. The main thing he wants to install to his house is electric heating panels to save on the cost of coal and reduce the harmful effects of coal usage. Before, his family used to use a coal-fired stove to warm their home in wintertime.
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 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. In addition, the extremely toxic smoke from cars is one of 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 and improve heating systems, as well as to buy cars that run on natural gas. The loan Batsaikhan is taking will be dedicated to covering the cost of electric heating panels and some missing building materials for rebuilding his family house.
Previous Loan DetailsMr. Batsaikhan is 37 years old and lives with his wife and two children, ages 4 and 1, in Erdenet, the third largest city of Mongolia. Batsaikhan owns a plot of land and small wooden house on it. His wife currently is looking after her baby. Since 2007, Batsaikhan has been running a transport... More from Batsaikhan's previous loan »
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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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