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Update on Badamkhand

Mrs. Badamkhand, 52 years old, lives with her husband and son in Ulaanbaatar, capital city of Mongolia. The family resides in their own old house on a plot of land. She has been working as an office manager at a private transportation bureau for thirty-eight consecutive years and she is well known for her skills and abilities.

Using her previous loan, she purchased an automobile for her son to use for a taxi service. Now her son is rendering taxi service day and night, contributing to the family income. Her husband has retired from work and now stays at home. The house they live in loses its heat greatly during winter time and the family uses lots of coal for heating. So she is requesting a loan of 3,500,000 Tugriks (MNT) to purchase a low pressure furnace. Using this item, her family will reduce their coal consumption thus contributing to the efforts against air pollution by releasing fewer pollutants into the air. The borrower is a very hardworking individual who strives for a better future.

Previous Loan Details

Mrs. Badamkhand, 51, works as an office manager in a private transportation bureau. She lives with her husband and her 22-year-old son in an old house in the suburban district of Ulaanbaatar, the capital city of Mongolia. Her son, Batbaatar, graduated from his school last year, but he is still un... More from Badamkhand'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
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Badamkhand to purchase a low pressure furnace.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
May 15, 2013
May 20, 2013
Currency Exchange Loss:
Dec 17, 2014