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Sukhtulga

Update on Sukhtulga

Mr. Sukhtulga, 42 years old, lives with his wife and children in Darkhan, the second largest city of Mongolia. The family resides in an old house on a plot of land. He used to raise livestock in the countryside. Recently he has been employed as security officer by a private firm. His wife works as assistant cook in a restaurant. Their children go to high school. He is requesting a loan of 1,500,000 Mongolian tugriks (MNT) to buy building and insulation materials such as bricks, cements, fiberglass and foam. Using those materials, he will repair and insulate his house thus creating comfortable and warm accommodation for his family. Also his family will begin to burn less coal for heating thus releasing less pollutants into the air.

Previous Loan Details

Sukhtulga, 41, is a watchman for a company in Darkhan, the second largest city in Mongolia. His salary is not so high; usually it does not cover his family's necessities. He lives with his wife and his 2 children in their old house. His wife used to work as a herder; now she is employed as a… More from Sukhtulga'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 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 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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,632.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $925 helped Sukhtulga to renovate his house in preparation for incoming winter.
92% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 4, 2013
Listed
Oct 10, 2013
Currency Exchange Loss:
Possible