Update on BatzayaMr. Batzaya, 30 years old, lives with his wife, child and parents in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has taken vocational training at mining project and, staring next month, he will be working in the mine. His wife has been selling clothes and toys for children for five years. His parents have retired and receive state pensions. His mother and father, though retired, are still contributing to the family income by working as a cook and a carpenter, respectively. He used his previous loan on insulating the walls and roof, but the house still loses heat through its roof. He is applying for a loan of 2,500,000 MNT to buy and spray foam into the curb roof (a gambrel roof or mansard roof). As a result, the house will stop losing heat through the roof, and the family will burn less coal for heating, thus releasing fewer pollutants into the air and contributing to the efforts to combat air pollution. The borrower is a very hardworking individual who strives for a better future.
Previous Loan DetailsMr. Batzaya, 29 is an electrician and he has just graduated from the technical college in Ulaanbaatar, the capital city of Mongolia. Now he has a plan to work in the mines in the rural areas. He lives with his wife and his parents in a house which is located in the ger district, Mongolian traditi... More from Batzaya'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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