Update on TuyaMrs. Tuya is 51 years old and lives with her husband and her two sons in the ger district of Ulaanbaatar, the capital city of Mongolia. The area has no running water, minimal roads and spotty electricity. She works as a teller in the bank. One of her sons will move out from his parents' house soon and his family has been building a small winter house for him as a wedding gift. Work on the house is nearly 50 percent done, and the family plans to complete it next spring.
Due to money shortages, however, the family is missing some building materials needed to complete the house. Mrs. Tuya and her husband are planning to build the house walls with insulation, in order to guard against the freezing cold by losing heat through the walls. It is very important to cut fuel usage such as coal in the winter. 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. In addition to this, the extremely toxic smoke from cars is one of the main reasons for Mongolians' 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 run on natural gas. The loan Mrs. Tuya is taking will be used to buy wall insulation materials for building her son's new family house.
Previous Loan DetailsTuya is 51 years old and has been working as a banker for 33 years. She is currently a teller in a commercial bank. She lives with her two sons and her husband in a boundary district of Ulaanbaatar, the capital city of Mongolia. One of Tuya’s sons will be married in January 2012 and she wants... More from Tuya'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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