Mrs. Oyuntsetseg’s family used to live in Uvurkhangai Aimag, a southwest province of Mongolia, and she was a teacher in kindergarten. Her husband used to be a herder raising livestock. In 1996, they lost almost all their livestock because of the harsh winter in Mongolia. Then, they had to move to Ulaanbaatar city in search of a better life, but they could not find any suitable jobs for them. She and her husband decided to collect different kinds of recyclable waste and sell it to waste exporting and recycling companies for a profit. Now they have an established business with 14 years of experience. They say that they are very proud of keeping society tidy and at the same time making a profit out of it.
They are one of Credit Mongol's reliable customers. The latest loan they have taken out has been used to buy a plot of land. And now Mrs. Oyuntsetseg is planning to build a house on their land. She has the project ready to go. The plan is to have the basement and basic structure of the house done before December, 2010, and the rest of the job will be completed during spring, 2011. The reason she is requesting this loan is she wants to buy all the necessary materials for the house and complete the basement and basic structure of the house before 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.
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