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Enkhbaatar

Update on Enkhbaatar

Mr. Enkhbaatar, 33 years old, lives with his wife and child in Dornod, an eastern province in Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. Since 2002, Enkhbaatar has been providing hairdressing services to local people. His wife offers the same services in another barber shop. Their 2-year-old son goes to pre-school.

In autumn 2012, the family began building their own house with planks. Due to lack of finances, the interior work is not complete so Enkhbaatar is requesting a loan of 1,500,000 MNT to purchase construction materials such as cement, gypsum, panels, etc. As a result, the family can live in a more comfortable and warm place. Enkhbaatar used his previous loan to open another barber shop and repaid the loan on an established schedule. He is a very hardworking individual who strives for a better future.

Previous Loan Details

Mr. Enkhbaatar, 32 is a skillful hairdresser and has been doing this job for 8 years. He lives with his wife in a ger, a traditional Mongolian nomadic tent, located in the slum district of Ulaanbaatar, the capital city of Mongolia. He will become a father soon and will be responsible for his fam... More from Enkhbaatar'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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,100 helped Enkhbaatar to purchase construction materials such as cement, gypsum and panels.
66% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2013
Listed
Jan 25, 2013
Currency Exchange Loss:
Possible