In 2008, Khurelbaatar's family suffered a big loss when the ger (a traditional Mongolian nomadic tent) in which they were living burned down completely. The cause of the fire was bad electrical wiring. They currently live crowded into Khurelbaatar's mother-in-law's ger. Since the disaster, Mr. Khurelbaatar has been saving money to buy a plot of land and a ger. At the moment, he needs some extra money to fulfill his plan.
Our institution's "green loan" product supports families in buying traditional Mongolian nomadic felt-covered tents made from sheep's wool. The loan Khurelbaatar is requesting will be used to supplement his payment in buying a plot of land and a ger.
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 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