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Burenbuyan

Update on Burenbuyan

Mrs. Burenbuyan is 34 years old, and is one of the hardworking women. Since 2007 she has been working as a salesperson in a trading company. She lives with her husband and her daughter, 3, in a ger (a nomadic Mongolian traditional tent) in the ger district in Ulaanbaatar, the capital city of Mongolia. This time she is requesting a loan to repair her old and bad house. Her family owns a house behind their ger and it was built many years ago. Currently her family does not use it due to the cold, chilly inside temperature in winter time. The house suffers heat loss trough its thin and bad walls. She wants to add wall insulation to her house which is currently not insulated. As she said she will complete the work with her husband within this autumn if they can make it in time.

Previous Loan Details

Burenbuyan, 34 is an accountant with a private company and has been working for 5 years. She lives with her husband and her daughter in a slum suburban district of Ulaanbaatar, the capital city of Mongolia. Her husband, Gurvanbaatar, has run a taxi service for the last several years. Lately his t... More from Burenbuyan'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 purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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 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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,380.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,750 helped Burenbuyan to repair her old and bad house.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 11, 2012
Listed
Sep 28, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013