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Battsetseg

Update on Battsetseg

Mrs. Battsetseg, 29 years old, lives with her daughter and parents in Ulaanbaatar, capital city of Mongolia. The family resides in their own house on plot of land. Using her previous loan, she installed low pressure furnace into house and made extension to the house. Her parents have retired from work and now gets state pension. She herself has been selling socks, tights, panties and other small garments by renting a counter at the trade center for three consecutive years.

She is requesting a loan of 6700000 MNT to purchase an electric car. By purchasing the electric car, she can drive to work without paying for taxi service and increase work efficiency by coming early. More importantly, electric car releases almost no air pollutants at the place where it is operated. The capital city Ulaanbaatar has severe air pollution and if every citizen thinks same as Battsetseg does, the issue of air pollution will be solved quickly. The borrower is very hardworking individual who strives for a better future.

Previous Loan Details

Battsetseg is a 28-year-old woman living with her parents and her 8-year-old daughter. They live in her 20-square-meter house, which was built in 2011. Her parents are pensioners and look after her daughter.

Battsetseg has been renting a counter in the city’s largest bazaar for three years... More from Battsetseg'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 Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,407.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,775 helped Battsetseg to purchase an electric car.
71% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 19, 2013
Listed
May 6, 2013
Currency Exchange Loss:
Possible