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Amarjargal

Update on Amarjargal

Amarjargal is 33 years old and lives with his wife and two children, ages 6 and 2 years. They live in their own wooden house in Kherlen, the largest city of eastern province of Mongolia. Amarjargal has worked as a court comptroller since 2004 beside his taxi business. His wife, Altansuvd, 29, has been working at a local secondary school as a teacher.

In 2006, they got married and built their current house. In that moment, as new couples, expecting a baby, they had a problem with money. So Amarjargal decided to use cheap materials to complete his house. As he planned, they completed their house, but house gets colder than others. As Amarjargal said, it is obvious when weather gets colder, especially in winter; the hoarfrost forms on the surface of the walls. So they need to use more coal to stay warm. This is why Mongolia is one of the worst countries for air pollution.

Amarjargal is requesting MNT 3,000,000 to insulate the walls and roof. By doing this, his house will be warm and comfortable and they will burn less coal than usual.

Previous Loan Details

Mr. Amarjargal is 32 years old and lives with his wife and two children in Kherlen, a boundary town in Mongolia. He works as a controller in the court. Beside his job, he runs a taxi business to increase his earnings. His salary usually does not provide for his family's necessities. During holidays… More from Amarjargal'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 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

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,400.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,150 helped Amarjargal to insulate the walls and roof.
63% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2012
Listed
Oct 10, 2012
Currency Exchange Loss:
Possible