Update on NasantogtokhMr. Nasantogtokh, 47 years old, lives with his wife and three children in Darkhan, the second largest city in Mongolia. He has been taking photographs for twenty-six years and has accumulated a vast amount of experience in this business. During the holidays, his income from photography reaches its maximum. His youngest son is currently studying at university. His two older sons both work in construction. He is applying for a loan of 2,500,000 MNT to buy an automobile that runs on natural gas. A natural gas vehicle emits fewer pollutants and wastes less fuel, as compared with automobile engines powered in other ways. The borrower will use this car for taxi services, and to reach the central children's park or any popular place quickly. It will give him some mobility and efficiency. The borrower is a very hard-working individual who strives for a better future.
Previous Loan DetailsMr. Nasantogtokh, 45, is a photographer. He has been running his business since 1997 and prefers to develop his own business step by step. He lives with his 3 children and wife in the slum district of Darkhan, the second largest city in Mongolia. Photography is the main income source of this fami... More from Nasantogtokh's previous loan »
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.
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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