Before 2000, Shinedorj worked as a truck driver until the company was shut down. Then in the year 2000 he bought a minivan and started his transportation business. He carries people from the east end of Ulaanbaatar city to Narantuul market, the biggest and most crowded market in Ulaanbaatar city.
Shinedorj is planning to build a house for his family. He is asking for a loan because he wants to buy building materials and concrete to start to build the basement of the house this year. He is planning to finish the basement before the winter and continue the building work next spring.
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.
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