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Update on Narantuya

Narantuya is 48 years old, and she lives with her children in Ulaanbaatar, the capital city of Mongolia. Her family resides in their own house on a plot of land.

She has been rendering transportation service to local people within districts of Ulaanbaatar and attracts quite a number of customer to her service. Narantuya is very hardworking individual who strives for a better future.

The house her family lives in has been deteriorating over the years and needs some serious repairs. So, she is requesting a loan of 4000000 MNT to purchase bricks, vacuum insulated windows, fiberglass and cement. Those materials will help insulate her house and provide warmer and more comfortable living conditions for her children.

The renovated house will enable her family to burn less coal, emit less smoke and contribute to ongoing efforts against air pollution.

Previous Loan Details

Mrs. Narantuya, 46 runs a passenger transportation business around the districts of Ulaanbaatar, the capital city of Mongolia. She has been doing her business since 2005 and already she has permanent customers. Her monthly earning does not meet with her family necessities often. She lives with he... More from Narantuya'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
  • 1,417.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,825 helped Narantuya to purchase bricks, vacuum insulated windows, fiberglass and cement.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Apr 25, 2013
Apr 30, 2013
Currency Exchange Loss:
Jun 17, 2014