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Khurelpurev

Update on Khurelpurev

Mr. 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 Details

Mr. 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 K... More from Khurelpurev'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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,429.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,400 helped Khurelpurev to purchase an electric car.
89% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 13, 2013
Listed
May 19, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014