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Update on Ganbat

Mr. Ganbat, 32 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. He teaches people how to drive an automobile at a driving center. His wife runs the grocery store and the business is going well. Ganbat decided to invest in the grocery store by buying a monitor screen and cash register. For this cause, he is requesting a loan of 4,000,000 MNT. As a result, the business efficiency will increase and customer satisfaction will be maximized. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Mr. Ganbat, 32 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on another person's plot of land. He teaches clients how to drive automobiles at a driving center. His wife operates their own grocery store. His elde... More from Ganbat's previous loan »

Additional Information

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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,672.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Ganbat to purchase a cash register and monitor screen.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 20, 2013
Sep 26, 2013
Currency Exchange Loss:
Sep 17, 2014
This photo was used before for a previous loan for Ganbat. It was first posted on Kiva on Feb, 2013. Learn More