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Khaidav

Update on Khaidav

Mr. Khaidav, 57 years old, lives with her wife and son in Ulaanbaatar, the capital city of Mongolia. They live in a Mongolian traditional ger on a plot of land. In 2004, he established his own monastery and began rendering religious services to local people. As time passes, the number of people who listen to his teachings increases. His son has a mental disorder and needs constant care from his mother. The ger they live in has deteriorated over the years and needs some serious repair. Because their ger is made of woods rather than felts, repairing and insulation is possible. He is requesting a loan of 3,000,000 MNT to purchase building and insulation materials such as planks, felts, fiberglass and foam. Using these materials, he can make wall insulation and roof repairs to his Mongolian traditional ger. The renovated house will enable the family to burn less coal, emit less smoke and thus contribute to the efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Khaidav is 55 years old and lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. They live in ger, a traditional Mongolian nomadic tent. Khaidav is a monk. He established his own small monastery in 2004 and since then, he has been providing different religious services to… More from Khaidav'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 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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,432.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,100 helped Khaidav to purchase building and insulation materials to repair his ger.
89% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2013
Listed
May 24, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014