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Batkhurel

Update on Batkhurel

Mr. Batkhurel, 23, runs a taxi around the districts of Ulaanbaatar, the capital city of Mongolia. He has two children and both of them attend kindergarten. He lives with his wife and his children in a ger, a Mongolian traditional nomadic tent in Ger District, an area of the city with no running water, minimal roads, and spotty electricity.

As we know, living in the ger is difficult and cold in winter. His wife and children always get sick due to the cold inside their home. Because of that, he decided to replace his ger cover with a new one that is made of breathable and moisture-proof material. The loan he is taking will be used to cover the cost of a new ger cover.

Previous Loan Details

Mr. BatK. is 22 years old and lives with his wife and two children in a ger, or traditional Mongolian tent in Ulaanbaatar, the capital of Mongolia. Since 2008, he has earned a living by driving a taxi, but his vehicle is in poor condition and limits his ability to earn enough money to support his... More from Batkhurel's previous loan »

Additional Information

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,360,225
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,300 helped Batkhurel to cover the cost of a new ger (nomadic tent) cover.
94% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 11, 2012
Listed
Sep 24, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014
This photo was used before for a previous loan for Batkhurel. It was first posted on Kiva on Nov, 2011. Learn More