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Gantugs

Update on Gantugs

Mr. Gantugs, 36 years old, lives with his wife and three children in Ulaanbaatar, capital city of Mongolia. He has been working as stonemason for the Mongolian Stonemason's Association since 2000. His wife has profession of nurse and works at rehabilitation center. Their elder two children go to high school while the youngest one stays at home.

Mr. Gantugs is requesting a loan of 2,275 USD to buy vacuum-insulated windows for better protection against outside noise and dust. By installing those windows, his family will live in clean environment without any dust. As spring comes to Mongolia, dust becomes a major issue in slum district because there is no cemented road or any grass growing. His youngest child has developed an allergy to dust and the other children are becoming allergic to dust. So the borrower wants to install vacuum-insulated windows as the dust is coming in with the wind through the present windows.

Previous Loan Details

Mr. Gantugs, 35 years old, lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. His wife works as a nursing officer at a rehabilitation center. His two sons, 15 and 10 years old study in ninth and seventh grade… More from Gantugs'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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $2,275 helped Gantugs to buy vacuum-insulated windows.
32% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2014
Listed
Mar 21, 2014
Currency Exchange Loss:
N/A