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Altantuya

Update on Altantuya

Mrs. Altantuya lives with her husband and daughter in Ulaanbaatar, in their recently renovated house. She is the chairman of one of the branches of a building company. Her husband is a gem cutter and electrician but currently unemployed.

Using her previous loan, she purchased building and insulation materials and prepared for incoming winter. She wants to connect her house to a central sanitation system. For this reason, she is requesting a loan of 7,000,000 MNT to cover the cost of the connection.

By doing so, her family will live in a comfortable place and it will be good for the environment, as waste water will be collected and treated.

Previous Loan Details

Mrs. Altantuya is 45 years old and lives with her husband and four-year-old daughter in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Her husband is an electrician and gem cutter but currently unemployed. She herself has been working as a chai... More from Altantuya'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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,399,550
    Funds lent in using Kiva
  • 1,588.4
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,425 helped Altantuya to connect her house to a central sanitation system.
88% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 2, 2013
Currency Exchange Loss:
Possible