Update on KhurelpurevKhurelpurev, 24 years old, lives with his mother, wife, and son in Ulaanbaatar, the capital city of Mongolia. He has been working as a server at a pub and rendering taxi service to local people since 2010. His mother is a senior worker at a health center. Using his previous loan, Khurelpurev has purchased an electric car and his taxi income increased substantially. Now he is requesting a loan of 5,000,000 MNT (Mongolian tugriks) to purchase an automobile which runs on natural gas. A natural gas vehicle wastes less fuel and the cost arising from it is less than that of an electric car. Also a natural gas vehicle's emissions are cleaner.
Previous Loan DetailsMr. Khurelpurev, 24 years-old, lives with his mother, wife and son in Ulaanbaatar the capital city of Mongolia. He has been working as a waiter at a pub since 2010 and during his free time, he provides a taxi service to local people. His mother has a position of a senior professional at a health… More from Khurelpurev's previous loan »
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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 MongolCredit 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.
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