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Geser

Update on Geser

Geser is 52 years old and lives with his wife and two children. They live in their wooden house in the ger district, an area of the city with no running water, minimal roads and spotty electricity, in Kherlen, the third largest city in Mongolia. His son is studying at the university in Ulaanbaatar city and his daughter is attending secondary school. Geser's wife is a shop assistant at a local company, but a couple of months ago she had an operation on her stomach. Geser is working as a watchman and working 24 hours. After work he is resting 48 hours and during this time he is running a taxi business in his own car.

He is very thankful to Kiva lenders for helping to expand his living conditions. In the winter, his house passes its heat through the door and gets colder, so they need to use a coal-burning stove to stay warm. The coal burning is becoming the primary source of air pollution in Mongolia, so Geser is requesting 3,000,000 MNT to build a small barn where the house door meets with the outside. By doing this, he can reduce the heat loss in his house, he will burn less coal and his family will live in comfortable conditions.

Previous Loan Details

Mr. Geser, 52, is a taxi driver around the Kherlen, a western boundary town of Mongolia. He lives with his wife and his three kids in the boundary side of the city. He has been running his business since 2005 and his earnings are not enough to provide for his family and cover their expenses. ... More from Geser'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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,175 helped Geser to build a small barn where the house door meets with the outside.
61% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 9, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
Possible