Odgerel started a business in 2006, at Narantuul, the largest outdoor market of Mongolia, selling underwear and slippers, with 750,000 MNT (Mongolian Tugriks) of working capital. Since then, her business has expanded and her current working capital has increased to 1,080,000 MNT.
With her business earnings, Odgerel started building a new small house as the old house is damaged and close to collapse. She bought cement, sand and other necessary materials with 3,500,000 MNT. Odgerel is requesting a 2,000,000 MNT loan to buy more necessary building materials such as, windows, doors etc., to finish her housing project before the end of this summer. Ogderel is a high-motivated and responsible woman who wants to improve her family’s living standards.
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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