Update on ErdenetuulErdenetuul, 55 years old, lives with her husband and son in Ulaanbaatar, the capital city of Mongolia. The family resides in a rental apartment. For the past 13 years, Erdenetuul has been running a supermarket and she has accumulated vast amount of experience. Her husband is disabled. His health condition is getting better daily; now he walks, speaks, and does things on his own. Erdenetuul used her previous loan to expand her supermarket and diversify the products she offers.
Erdenetuul is requesting a 3,500,000 MNT loan to purchase building and insulation materials to repair and insulate an old house and leave her apartment. She lives in a ger district, rural area where central heating and sanitation systems are rare. Erdenetuul thinks that, instead of living in an apartment where the heat is stopped during the summer time, it is better for her husband's health to live in a house. She is aware that a renovated house won't require a large amount of heating coal and it is way better for preserving energy. Erdenetuul is a very hardworking individual who strives for better future.
Previous Loan DetailsMrs. Erdenetuul is 54 years old and lives with her husband and a 23-year-old son in a rented apartment in Ulaanbaatar, the capital city of Mongolia. For the last 10 years she has been renting a supermarket. Her son is a student and will graduate in coming spring. Two years ago her husband had a… More from Erdenetuul'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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