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Sanjaapuntsag

Update on Sanjaapuntsag

Mr. Sanjaapuntsag is a 33-year-old taxi driver. He lives with his wife and two little children in Ulaanbaatar, the capital city of Mongolia. He has been running his taxi service for three years and already has had many customers. His wife stays at home, looking after the children and caring for the household. So, Mr. Sanjaapurev is the only person who provides for the family.

He is requesting a loan of 2,200,000 MNT to buy a new car because his old car isn't in good condition to use for a taxi service. If he buys a new car, his income will be more than it is now and he will be able to provide for his family even more while, at the same time, serve people in comfort.

Previous Loan Details

Mr. Sanjaapuntsag is a taxi driver in Ulaanbaatar, the capital city of Mongolia. He has been running his taxi for a year and already has had many customers. He lives with his wife and his daughter in an old wooden house that was built in the early 1970’s. His family has been living in this house ... More from Sanjaapuntsag's previous loan »

Additional Information

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,825.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,225 helped Sanjaapuntsag to buy a car and run a taxi service.
63% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 10, 2014
Listed
Jun 24, 2014
Currency Exchange Loss:
Possible