Check out some available loans that are similar to this one!
Gansukh

Update on Gansukh

Mr. Gansukh, 51, is a taxi driver who services the districts of Ulaanbaatar, the capital city of Mongolia. He started his business in 1997, and since then, he has been operating his business nonstop. And he has had a lot of permanent customers in the past years. He lives with his family in a house in ger district, a slum district in Ulaanbaatar, the capital city of Mongolia.

In winter, he uses a coal fired furnace to heat his home and it emits too much smoke and harmful toxic substances into the air. Therefore, he decided to replace it with a smokeless stove, which is made with modern technology. 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 causes of 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 cars on the natural gas.

The loan Mr. Gansukh is taking will be used to cover the cost of the new smokeless stove in his house for reducing the pollution in the air.

Previous Loan Details

Mr. Gansukh, 44, is a taxi driver around the districts of Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his 3 kids on the boundary side of the city. He has been running his business since 1999, but not earning enough to provide for all of his family expenses. His famil... More from Gansukh'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 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 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Gansukh to cover the cost of the new smokeless stove in his house for reducing pollution in the air.
97% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Aug 29, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013