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Update on Enkhbold

Mr. Enkhbold, 43 years old, lives with his wife and children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He and his wife work at the same business entity. He has been working there since 2010, while his wife recently began working there as a saleswoman, in November, 2012.

Enkhbold has gotten a loan from our organization before, and paid his debt on the established schedule. This time, he is requesting a loan of 1,500,000 MNT to spend for building an addition to his house. To build the addition, he needs to purchase construction materials, such as hardwood floors, roofing, cotton, bricks and cement. As a result, the family will live in a comfortable and spacious place. Especially at this time of year, construction materials are at their lowest prices, and he can save quite a large amount of money from this price discount. The borrower is a very hard-working individual, who is striving for a better future.

Previous Loan Details

Mr. Enkhbold is 41 years old and lives with his wife and three children, 19, 16 and 14, two of them in secondary school. He has been working as a salesman in a small construction retail and service company since 2010. His wife runs a private business of construction decoration. The family is plan... More from Enkhbold'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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Enkhbold to build a house addition.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Jan 20, 2013
Currency Exchange Loss:
Feb 17, 2014