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Nanjii

Update on Nanjii

Mr. Nanjii, 56 years old, lives with his wife in Kherlen, an easternmost town of Mongolia. He has been making and selling Mongolian traditional furniture to local people for over twenty years. All of his children are married, and live separately.

Before this business, he had worked as a maintenance technician for 23 years. His wife teaches the Mongolian language at a high school.

The house they live in has been deteriorated over the years, and needs some serious repair and insulation. Therefore, he is requesting a loan of 7,000,000 MNT to purchase building and insulation materials such as bricks, cement, foam, fiberglass, and planks. Using those materials, with the help of some of his children, he can repair and insulate his house and make it more comfortable and warmer. The renovated house will enable the family to burn less coal for heating, which results in less air pollution.

The borrower is very hardworking individual who strives for a better future.

Previous Loan Details

Mr. Nanjii, 55, is a carpenter and makes Mongolian traditional furniture for his neighbors and his permanent customers. He has been running his business for 20 years and lives with his wife. All of his children have moved out. Now he needs money to increase his business working capital. It is ... More from Nanjii'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.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,527.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $4,600 helped Nanjii to purchase building and insulation materials for his house.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 8, 2013
Listed
Aug 14, 2013
Currency Exchange Loss:
Possible
Expired:
Sep 13, 2013