Update on GanbatMr. Ganbat, 39 years old, lives with his wife, son and daughter in Ulaanbaatar, capital city of Mongolia. He has been rendering a taxi service to local people for five consecutive years and has accumulated a vast amount of experience. Sometimes for a client order, he makes decorations and does some construction work for additional income. Using his previous loan, he has repaired many parts of his house. But still due to miscalculation of costs in the repair of the house, he didn't finish the repairs. So he is again requesting a loan of 4000000 MNT to purchase construction materials such as bricks, hardwood floor material, vacuum insulated windows and ceilings.
As you can see in his photo, the house is still not layered with bricks, and the windows are vulnerable to storms and frost. By giving this client one more loan, he can finish his long-dreamt-of house repair work. The repaired house will certainly help the family in many ways. Just to name few of them: it will provide a comfortable and warm place, allow less consumption of coal as a fuel source, thus contributing to the efforts against air pollution, and will increase his enthusiasm for the future.
Previous Loan DetailsMr. Ganbat is 37 years old. He lives with his son, daughter and wife in their own house in Ulaanbaatar, the capital city of Mongolia. He is a taxi driver, and has been running this business for many years. He also works at construction when he has orders for building or decoration. Recently, ... More from Ganbat's previous loan »
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 MongolCredit 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.
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Success!! The loan was 100% repaid