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Gantulga

Update on Gantulga

Gantulga is 26 years old. He lives with his younger brother and mother in Ulaanbaatar, the capital city of Mongolia. They reside in their own house in his elder brother’s yard. Since 2010, Gantulga has been providing taxi service to local people using a leased automobile. Now, he has paid the full cost of his automobile and has also accumulated a vast amount of taxi service experience. Before operating a taxi service, Gantulga worked in the construction field. His younger brother is studying at the university and has difficulty paying his tuition fees. Also, the furniture in Gantulga's house has deteriorated and needs updating.

Gantulga is requesting a 2,500,000 MNT loan to pay for his brother’s tuition fees and to purchase a table, dresser, and chairs. His loan will allow him to continue to work enthusiastically without worrying about his brother’s tuition. More importantly, Gantulga's mother can live in a comfortable and attractive place.

Previous Loan Details

Mr. Gantulga, 25, is a taxi driver around the districts of Ulaanbaatar, the capital city of Mongolia. He has been running his business for 2 years and before he used to work as a driver. He lives with his family in the slum district of the city. His daily income is about 20 bucks and it is a main... More from Gantulga'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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Gantulga to cover his brother's university tuition and purchase furniture for his home.
86% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2013
Listed
Feb 4, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2015