Update on BadamdorjBadamdorj, 48 years old, lives with his wife and four children in Ulaanbaatar, capital city of Mongolia. The family resides in their own house on ring-fenced land.
He has been rendering goods transportation services to local people at an outdoor market since 2000 and now he has permanent customers and an improved truck, which highly satisfies customer needs.
This year, his daughter and elder son are graduating from university and high school, respectively. During summertime, his wife sells dairy products and meat to local people.
The house they live in has deteriorated over the years and needs some serious repair and extension since his sons are growing and requiring more private space. So, Badamdorj is requesting a loan of MNT 6,000,000 to purchase building and insulation materials, such as bricks, concrete, planks, fiberglass, foam, and gypsum walls.
Using these materials, he can make his house more comfortable and a warmer place. The renovated house will enable the family to burn less coal, emit less smoke, and contribute to the efforts against air pollution.
The borrower is one of our reliable clients. He has borrowed six times and paid each installment on scheduled time, without any delay.
Previous Loan DetailsBadamdorj is 45 years old. He lives with his wife and 4 children in Ulaanbaatar, the capital of Mongolia. They all live in a wooden house. He operates a trucking business in which he transports goods, such a wooden materials, to the 44th Building Market. His wife operates a dairy business… More from Badamdorj'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.
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.
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This loan has been fully funded!