Twelve years ago she started up her business with 80 USDs as starting capital and now her working capital has reached 2400 USDs. Recently she has added one more stall at the market to increase her sales and profit. Her three daughters help in her business.
Last year she started a family house building project and it is not completed yet. The exterior is nearly finished and the interior decoration needs to be done. She is planning to move in before September 2011. The loan Riimaa is taking will be used to buy necessary building materials such as a cement, sand, gypsum boards, plaster, paint and wallpaper and to complete the interior decoration of the house.
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