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Enkhbat

Update on Enkhbat

Enkhbat, 43 years old, lives with her husband and son in Ulaanbaatar, the capital city of Mongolia. She has been working as a hairdresser at a barbershop since 2010. Her husband stopped rendering taxi service due to a car breakdown. Using her previous loan, she purchased an electric car for her son. Now she is requesting a loan of 6,500,000 MNT to buy an electric car for her husband. The advantage of an electric car is that it contributes to cleaner air in cities because it produces no harmful pollution at the tailpipe from the onboard source of power, such as particulates (soot), volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. Her husband is a very hardworking individual and will use the car for taxi service because he can't sit idle without working.

Previous Loan Details

Mrs. Enkhbat, 43 years old, lives with her family in Ulaanbaatar, capital city of Mongolia. Her husband has been rendering taxi service to local people using his automobile since 2004. She herself is a hairdresser at a barbershop. She is requesting a loan of 3,500,000 MNT to purchase an electric ... More from Enkhbat'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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,722.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,775 helped Enkhbat to buy an electric car.
54% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2013
Listed
Dec 8, 2013
Currency Exchange Loss:
Possible