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Taivanjargal

Update on Taivanjargal

Mr. Taivanjargal, 37 years old, lives with his wife and daughter in a traditional Mongolian five-walled ger (portable felt dwelling) on land where his brother and father live in separate houses in Ulaanbaatar, the capital city of Mongolia. His wife is unemployed and his daughter goes to high school. He himself renders taxi services five days each week. At first, he worked as a contract driver by using the organization’s car as a private business entity since 2005 and accumulated a vast amount of experience. Then in 2007, he transferred car ownership to his name and began rendering a taxi service. He is one of our most reliable clients and has used his previous loan for repairing his house, which belongs to his parents. When his parents came back to live in Ulaanbaatar, his family moved to a traditional Mongolian ger on the same land.

He is requesting a loan of 500,000 MNT to purchase briquette, which will be used for cooking. There are many advantages to using briquettes, including its unique property of creating no smoke, soot or carbon deposits while burning; long burning duration compared to its original condition; more efficient than firewood in thermal value; and low value ash content; and is also renewable because it is made with organic materials, which are common. All of the above-mentioned advantages will help the efforts against air pollution in Mongolia.

The borrower is very hardworking individual who strives for better future.

Previous Loan Details

Mr. Taivanjargal, 36, is a taxi driver and has been running his business for six continuous years. He lives with his old father, his wife and his daughter in his father’s old house, which is in the slum district of Ulaanbaatar, the capital city of Mongolia. His daily income usually does not meet ... More from Taivanjargal'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 Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,372,575
    Funds lent in using Kiva
  • 1,377.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $375 helped Taivanjargal to purchase briquettes.
98% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2013
Listed
Mar 1, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013