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Update on Ganbat

Mr. Ganbat, 32 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on another person's plot of land. He teaches clients how to drive automobiles at a driving center. His wife operates their own grocery store. His elder son goes to secondary school while his younger son stays at home.

He is requesting a loan of 4,000,000 MNT to purchase food stuffs in large quantity. The reason is that at this time, the national holiday as known as White moon is celebrated and demand for food stuffs increases drastically. As a consequence, they can generate more income from their grocery store. The borrower is a very hardworking individual who strives for a better life.

Previous Loan Details

Mr. Ganbat, 30, is a teacher of driving. He has been doing his job for many years. He lives with his family in the house which is located in the boundary district of Ulaanbaatar, the capital city of Mongolia. His monthly salary does not meet with his family expenses and he always searches ways to... More from Ganbat's previous loan »

Additional Information

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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,372.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,925 helped Ganbat to purchase food stuffs in large quantity.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Feb 17, 2013
Feb 2, 2013
Currency Exchange Loss:
Jun 17, 2014