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Khurelbaatar
Mr. Khurelbaatar is 31 years old. He lives with his wife, three children, and mother-in-law in Ulaanbaatar, the capital city of Mongolia. His wife looks after the kids. Khurelbaatar has been running a taxi business since 2008, and it is the family's only source of income.

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.

Additional Information

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 Mongol

Credit 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.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,240.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,025 helped Khurelbaatar to purchase a plot of land and a ger (a traditional nomadic tent) for his family.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 21, 2011
Listed
Apr 29, 2011
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2012