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Update on Gantumur

Mr. Gantumur, 42 years old, lives with his wife and sons in Kherlen, an eastern town of Mongolia. The family resides in their own house on a plot of land. He has been rendering a taxi service to local people for twelve consecutive years and has accumulated a vast amount of experience. His wife stays at home and raises pigs. He is requesting a loan of 1,200,000 MNT to purchase vegetable seeds and build a storehouse. Growing vegetables will meet the family's food demand and he can sell the surplus vegetables to local people at the market. Also in order to store vegetables during winter time, he needs to build a storehouse. Moreover growing vegetables has benefits of turning nearby carbon dioxide into oxygen thus creating cleaner air around the town. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Mr. Gantumur, 40, is a taxi driver who lives with his wife and sons in Kherlen, a border town of Mongolia. He has been running a taxi business since 2001. Now it is a main source of income for his family. He needs to replace some parts of his taxi car because it has been becoming bad and dang... 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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,407.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Gantumur to purchase vegetable seeds and build a storehouse.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 18, 2013
Apr 25, 2013
Currency Exchange Loss:
May 18, 2015