Jargalsaikhan is a driver and runs a transportation business. He owns a minivan and transports people on one of the remote bus routes of Ulaanbaatar which lacks buses. He has special permission from city council to carry people on specific routes. Jargalsaikhan is a hardworking, sociable person.
In 2010, he bought a plot of land and is planning to build a house on it. He lives in a ger (a traditional Mongolian nomadic tent) at the moment. He has a building project on hand and is planning to start the project now.
The loan Mr. Jargalsaikhan is requesting will be used to buy necessary building materials such as cement, bricks, wooden planks, sand and so on to build a family house.
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