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Erdene-Ochir

Update on Erdene-Ochir

Erdene-Ochir, 43, is a taxi driver and has run his business since 2008 in various districts of Ulaanbaatar, the capital Mongolia. He has gained a lot of experience and wants to continue his business in the future. He lives with his wife and two sons in brother’s house. His wife recently started a new textile business with her sister, which they run from their rental apartment. Erdene-Ochir wants to move back into his own apartment, but it is in very bad shape. He is asking for a loan 1,600,000 MNT to improve the living conditions there.

Previous Loan Details

Erdene-Ochir, 42, is a taxi driver. Since 2008, he has run his business in the districts of Ulaanbaatar, the capital city of Mongolia. Erdene-Ochir has gained enough experience to continue his business in the future. He lives with his wife and two sons in his brother’s house. Erdene-Ochir's… More from Erdene-Ochir'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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,150 helped Erdene-Ochir to improve the living conditions in his apartment.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2012
Listed
Nov 13, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014
This photo was used before for a previous loan for Erdene-Ochir. It was first posted on Kiva on Nov, 2011. Learn More