Enkhjargal is a pensioner, but he runs a taxi business, earning some money on top of his pension.
Two years ago Enkhjargal has done some extension to his house, but it is not complete yet. He is planning to complete the building work by laying insulation and bricks to the walls and by replacing the coal-fired heating stove to low-pressure central heating system, which reduces the emission of poisonous smoke into the air and saves on heating cost. Ulaanbaatar city's air quality is at dangerous level, few times exceeding the normal level. It is the one of the biggest problems of Mongolian government at the moment.
Enkhjargal is going to use his savings to complete the building work, but he needs some extra funding. He has already bought some materials. The loan he is asking will be used to pay for necessary building materials such as cement, bricks, sand, insulation materials and pipes for the internal heating system to complete the building project.
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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