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Beezandan

Update on Beezandan

Mr. Beezandan, 58 years old, lives with his wife and nephew in Kerlen, an eastern boundary town in Mongolia. The family resides in their own house on a plot of land. He has been working as a watchman at a primary school for 22 years, and all the colleagues respect him. His wife has retired from work and gets a state pension. All of his daughters live separately from their parents. The borrower is a very hard-working individual, who strives for a better future.

The house in Kerlen that Beezandan lives in has deteriorated over the years, and it needs some renovation. So, he is requesting a loan of 5,000,000 MNT, which he will use to purchase building and insulation materials, such as fiberglass, foam, planks and bricks. Using those materials, he will make an extension to his house, thus reducing the heat loss through walls and the door. More importantly, the extension and adding insulation will enable the family to burn less coal during harsh winter temperatures.

According to a national statistics agency, one of the main factors of air pollution in Mongolia is excessive usage of coal. Reducing this usage will contribute to the efforts against air pollution.

Previous Loan Details

Mr. Beezandan, 57, works as a watchman in a primary school. Before this, he used to work as a driver. All of his children moved out from their parent’s house. Now he lives with his wife and nephew in Kherlen, an eastern boundary town in Mongolia. One of his daughters lives in Ulaanbaatar, the… More from Beezandan'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 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 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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,399.6
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,575 helped Beezandan to make an extension (reducing heat loss through walls and the door) and add insulation to his house, in order to stop heat loss.
41% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 26, 2013
Listed
Mar 30, 2013
Currency Exchange Loss:
Possible