Update on KhurelpurevMr. Khurelpurev, 24 years-old, lives with his mother, wife and son in Ulaanbaatar the capital city of Mongolia. He has been working as a waiter at a pub since 2010 and during his free time, he provides a taxi service to local people.
His mother has a position of a senior professional at a health center and his wife is currently staying at home looking after their baby. Recently his old automobile, which had been repaired earlier using his previous loan, stopped working completely so he is requesting a loan of 2000000 MNT in order to purchase an electric car. Electric cars contribute to cleaner air in cities because they produce no harmful pollution at the tailpipe from the onboard source of power, such as particulates (soot), volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. From personal views, purchasing of this type of car should be encouraged everywhere because Ulaanbaatar has the worst air pollution in the world.
The borrower is a very hardworking individual who strives for a better future.
Previous Loan DetailsMr. Khurelpurev is 22 years old, a waiter, and lives with his mother in a house bought on a mortgage in Ulaanbaatar, the capital city of Mongolia. He is a laborious and diligent young man who is trying to improve his life and private career. Khurelpurev has been working as a waiter in Grand… More from Khurelpurev'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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