Uuganbayar has been working for a power grid servicing company as an electrician for six years. He is a hardworking and self motivated person. Recently, he has been appointed as a team leader and had a pay raise.
Two years ago, Uuganbayar built a family house but some parts of the house have not been completed yet due to a lack of funds. Now he wants to complete the unfinished parts of the house by taking a loan. The pay raise has increased his repayment capability and gives him a chance to complete his mission. The loan will be used to buy the necessary building materials and to complete the building project which he started two years ago.
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