In November 2010 her husband Munkhdalai 37, went to Korea to work on a labor contract. He is working at a factory there. Saingerel says that they were very lucky, because not everyone who applies is chosen to work abroad on a labor contract. Saingerel said that her husband sends a money back home on a monthly basis.
A lot of Mongolians, especially youngsters, leave the country to earn some money abroad. Last year Saingerel started the building project and she managed to put a basement in the house. Now she wants to continue her project and complete the building of a family house. Therefore she is asking for a loan to buy necessary building materials such as cement, sand, wood planks, plaster board, and insulation materials, and to pay for labor.
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