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Altantsetseg

Update on Altantsetseg

Mrs. Altantsetseg, 45 years old, lives with her mother in Ulaanbaatar, capital city of Mongolia. She has been selling cosmetic products to local people by renting a stall at a trade center since 2006. Her mother has retired from work and gets state pension. Her son's family lives in an old house on a plot of land. She is afraid that their newly born child may get sick as the cold winter is coming closer. So she is requesting a loan of 2,500,000 MNT to buy fiberglass, foam, vacuum insulated windows and hardwood floors in order to renovate her son's house. As a result, her worry over her grandson will decrease and her son's family will live in a comfortable and warm place where less coal is burned and then less pollutants are released into air.

Previous Loan Details

Mrs. Altantsetseg, a 43-year-old widow, lives with her mother in her apartment in Ulaanbaatar, the capital city of Mongolia. Her only son Enkhmend 27 is married and lives with his wife. He works in city's rescue department. Mrs. Altantsetseg started her retail business in 2006 by selling shoe... More from Altantsetseg'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
  • $15,364,275
    Funds lent in using Kiva
  • 1,672.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,500 helped Altantsetseg to buy fiberglass, foam, vacuum insulated windows to renovate her son's house to keep his newly born child warm in the cold winter.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 18, 2013
Listed
Oct 25, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014