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Tserenpil

Update on Tserenpil

Tserenpil, 34 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. The family income comes entirely from his transportation service which he has done for seven years consecutively. His two children both go to kindergarten. He is requesting a loan of 7,000,000 MNT to purchase building and insulation materials such as bricks, cement, fiberglass and foam in order to renovate his house. As a result, his family can live in a comfortable and warm place. More importantly, the renovated house will enable the family to burn less coal, emit less smoke, and then contribute to the efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Mr. Tserenpil, 34 years old, lives with his wife and child in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Tserenpil has been rendering transportation services to local people since 2006 and has accumulated vast amount of experience. His wife... More from Tserenpil'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 purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,360,225
    Funds lent in using Kiva
  • 1,567.4
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $4,475 helped Tserenpil to renovate his house.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2013
Listed
Aug 20, 2013
Currency Exchange Loss:
Possible
Expired:
Sep 19, 2013