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Enkh-Ochir

Update on Enkh-Ochir

Mr Enkh-Ochir, 49-years-old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger on a plot of land. His family income consists of his serviceman salary, his wife's salary and his son's earning from religious teaching. He has lived in a Mongolian traditional ger for many years and wants to live in a house as he is getting older day by day. So he began building the house foundations on his land this summer but due to a lack of finance, he can't advance the building work.

Mr Enkh-Ochir is requesting a loan of 1,300,000 MNT to purchase additional bricks. He is planning to complete his house before winter. He thinks living in a house will be better for both him and his wife as they are getting older and shouldn't catch cold. Also a high quality house will enable the family to burn less coal for heating thus releasing less pollutants into atmosphere.

Previous Loan Details

Mr. Enkh-ochir is 49 years old and lives with his wife and son in Ulaanbaatar, Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. His wife has the position of manager at a private business entity. His son is a monk and after studying Buddhism i... More from Enkh-Ochir'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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,667.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $800 helped Enkh-Ochir to purchase additional bricks.
99% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2013
Listed
Sep 28, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014