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Ganmyagmar

Update on Ganmyagmar

Mrs. Ganmyagmar, 49 years old, lives with her husband in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. She has been running a meat sales business at the food market for almost three years and has secured many permanent customers. Her husband renders a taxi service to local people using his own automobile. The house they live in has deteriorated walls, windows, roof and floors. She purchased some building materials herself but couldn't afford to buy large items. So she is requesting a loan of 7,000,000 MNT to purchase vacuum-insulated windows, hardwood floors, shingles and fiberglass. Using these items, her husband can renovate their house back to its original state. The renovated house will enable the family to burn less coal and release less pollutants, thus contributing to the efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Ganmyagmar, 47, is a butcher in the food market in Ulaanbaatar, the capital city of Mongolia. She has been selling meat for less than a year, and already has permanent customers. Her main meat item is lamb, that she gets from suppliers in the countryside. Now Ganmyagmar want to increase her… More from Ganmyagmar'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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,420.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,950 helped Ganmyagmar to purchase vacuum-insulated windows, hardwood floors, shingles and fiberglass.
69% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2013
Listed
Jun 18, 2013
Currency Exchange Loss:
Possible