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Surenbaatar

Update on Surenbaatar

Surenbaatar, 52 years old, lives with his wife and son in Kherlen, the easternmost city of Mongolia. They live in their own house on a plot of land. Surenbaatar has worked for sixteen years as an engineer at a private business entity. Now he is a consultant in engineering for several companies. His wife is a manager, and his son is a sentry at a police department. Using his previous loan, he renovated his house, but some parts of the house are still vulnerable to rain, snow, storms, and frosts. He is requesting a loan of MNT 6,000,000 to buy vacuum-insulated windows, hardwood floors, and shingles for the roof. After installing vacuum windows, hardwood floors, and shingles, the heat loss through the windows, floors, and roof will decrease, and the family will begin to burn less coal. This will reduce the pollutant release into the atmosphere. The borrower is a very hardworking person who strives for a better future.

Previous Loan Details

Mr. Surenbaatar, 51, has worked as an engineer in a private company for 16 years. He lives with his family in his old and bad house in Kherlen, an eastern city in Mongolia. His house, which was built earlier of 1980’s, has gotten old and uncomfortable to live there. So he decided to make some ren... More from Surenbaatar'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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,420.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $4,225 helped Surenbaatar to buy vacuum-insulated windows, hardwood floors, and shingles.
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
Jun 16, 2013
Currency Exchange Loss:
Possible
Expired:
Jul 16, 2013