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Update on Gantumur

Mr. Gantumur is 35-years-old and a driver. Since last spring he has been running passenger transportation by his minivan around Ulaanbaatar, which is the capital city of Mongolia. His wife Yanjmaa runs a second-hand clothes store in a rented shop.

Gantumur lives with his family in the recently built house in the ger district, an area of city with no running water, minimal roads and spotty electricity. His children always get sick in winter because of the cold at home. His house was built without wall insulation and house inside becomes the cold due to the heat loss.

Gantumur uses a coal-fired stove to warm his house in winter. It smokes too much and damages the health of his family members as well as the environment. So he decided to make repairs to his house including the wall insulation. He hopes it will be economic and healthy for environment. The loan he is taking will be used to pay for the building materials for his house repairs.

Previous Loan Details

Mr. Gantumur, 34, runs a taxi service around the districts of Ulaanbaatar, the capital city of Mongolia. He has been in this business for six years and already has had many customers in the past years. He lives with his wife and his two children in a ger, a traditional Mongolian nomadic tent. ... More from Gantumur'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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,200 helped Gantumur to pay for building materials for his house repairs.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Aug 17, 2012
Sep 3, 2012
Currency Exchange Loss:
Oct 3, 2012