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Amar

Update on Amar

Mrs. Amar, 28 years old, lives with her husband, daughter and mother in Ulaanbaatar, the capital city of Mongolia. She has been working as a manager at a student exchange agency since 2008. Her husband runs his business. Their daughter goes to kindergarten. His mother has retired from work and stays at home. The house they live in has deteriorated over the years and it becomes very cold during winter. So, Mrs. Amar is requesting a loan of 7,600,000 MNT to buy a low pressure heater, vacuum insulated windows, hardwood flooring and fiberglass for their house renovation. As a result, this family will live in a comfortable and warm place where less coal is burned and less pollutants are released into the air. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Mrs. Amar, 27, is a translator and works as a manager in the student exchange agency in Ulaanbaatar, the capital city of Mongolia. Currently it is a main income source of her family. She has been doing her work for two years. She lives with her family in the ger district of Mongolian nomadic yurts… More from Amar'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.

About Mongolia

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,709.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,450 helped Amar to buy vacuum insulated windows and a low pressure heater.
66% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2013
Listed
Dec 10, 2013
Currency Exchange Loss:
Possible