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Narantsetseg

Update on Narantsetseg

Narantsetseg is a 41-year-old widow who lives with her mother and son in a rental apartment in Ulaanbaatar, the capital of Mongolia. She started her underwear sales business in 2009, and it was successful due to her determination and hard work. Now she sells not only underwear, but also other clothes especially meant for children. In the future, she wants to build a shop where foods and other things will be sold.

Her dream is to live with her son in a comfortable apartment, but she couldn’t afford it. So she decided to build a house where she and her son can live happily.

To build a house, she needs a 6,000,000 MNT loan. High quality house she will build shall reduce the consumption of coal and it has positive effect on environmental protection. As a result mother and son can live comfortably.

Previous Loan Details

Narantsetseg is 39 years old. She is a widow who lives with son in Ulaanbaatar, the capital city of Mongolia. She and her family live together in a rental house. Her son, Orgil, is 16 years old and he attends the local secondary school. She operates her underwear sales business at Sunday Plaza. N... More from Narantsetseg'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
  • $15,364,275
    Funds lent in using Kiva
  • 1,400.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,300 helped Narantsetseg to build a house.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 8, 2012
Listed
Dec 18, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014