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Tuya

Update on Tuya

Mrs. Tuya, age 39, runs a seamstress business in which she purchases silk material and manufactures silk dresses. She has been running this business for four years out of a rental apartment. She lives with her husband in Ulaanbaatar, the capital city of Mongolia. Her husband works in a thermal power station.

Using the profits from her previous loan from our organization, the couple has built the foundation of their own house on their own land. However, due to insufficient finances, the house’s primary living area is not completed. Thus, as winter comes to Mongolia, there is excessive loss of heating and the couple is experiencing extremely cold conditions in the home.

To remedy this situation, Mrs. Tuya is requesting a loan in the amount of 2,000,000 MNT in order to install windows, a door, and a roof. As a result of this loan, they will be able to live in a comfortable place. They will also burn a good deal less coal, thereby saving money and significantly reducing air pollution.

Mrs. Tuya is a very hard-working individual who has a reliable record of loan payment.

Previous Loan Details

Mrs. Tuya, 38, is a seamstress. She lives with her husband, and they have no children. For the past 3 years she has been running a sewing shop in Ulaanbaatar, the capital city of Mongolia, called “Khatan Goo”. Her shop already has many permanent customers and they all say that Tuya is a skillful... More from Tuya'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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,360,225
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Tuya to install windows, a door, and a roof.
91% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 6, 2012
Listed
Dec 17, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014