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Tserenpil

Update on Tserenpil

Mr. Tserenpil, 34 years old, lives with his wife and child in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Tserenpil has been rendering transportation services to local people since 2006 and has accumulated vast amount of experience. His wife stays at home and does household work.

Using his previous loan, Tserenpil installed a heating system in the house, which helped his family to stay warm during the harsh winter time. This time, he is requesting a loan of 1,000,000 MNT to purchase some building materials, such as metal, planks and nails to change his fence's gate, and also to purchase furniture, such as a sofa and chairs. As a result, the fences surrounding his house will look well, and new furniture will decorate his house greatly.

Tserenpil is one of our most trustworthy clients and a very hardworking individual.

Previous Loan Details

Tserenpil is a humble, helpful and open-minded person. He lives with his wife and three-year-old son in Ulaanbaatar, the capital of Mongolia. They all live together in their own house, built and purchased in 2008. Tserenpil currently operates a transportation business in the city, using a van... More from Tserenpil'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 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,402.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Tserenpil to change his outdoor gate and purchase furniture.
97% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 5, 2013
Listed
Apr 7, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013