Until 2009 Batochir used to run a small grocery shop nearby his home but had to give it up due to the increase of rent price. Then in 2009 he bought a truck using his savings and started running a building material delivery business. Each year Batochir plans and completes some small building project. Within last two years he built two garages in his backyard. This time Batochir is planning to extend his house, making a separate room for his son. The loan he is taking will be used to buy the necessary building materials to extend his house making separate room for his son who is student.
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