Update on AriunboldMr. Ariunbold is 29 years old and lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He has been rendering taxi service to local people since 2007 and has accumulated a vast amount of experience. Now he works as a driver at a private business entity where also his wife works and holds the position of general manager. Using his previous loan from our organization, he completed building his rental house. Now he is requesting a loan of 3,000,000 MNT to install an electric heater and encase his house's roof with metals. Installing the electric heater will stop the usage of the furnace, in other words he will not burn coal as a fuel. Burning coal is considered to be main factor of air pollution in Ulaanbaatar according to survey. Also, fortifying the roof with metal will protect the house from strong storms and frosts, ensuring that the house will no longer lose its heat through the ceiling and roof. The borrower is a very hardworking individual who concerns greatly for his living environment and renters. If the area surrounding the house has poor air condition, it will not attract room-renters to his house.
Previous Loan DetailsMr. Ariunbold is 27 years old and lives with his wife and two sons in Ulaanbaatar, the capital city of Mongolia. He drives a taxi and has been running it since 2007. And his wife has been working as a hotel organizer for many years. This family owns a small-sized plot of land and a house.… More from Ariunbold's previous loan »
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
About Credit MongolCredit 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.
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