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Otgonchimeg
Otgonchimeg is 52 years old and she lives with her husband and daughter in Darkhan, the second largest city of Mongolia.They own a small land plot with a house on it. Her daughter, Davaajargal, is 24 years old and she helps in her mother’s business.

Otgonchimeg’s husband runs a vehicle repairing business. Otgonchimeg is running a waste material collecting business. She collects waste materials such as cans, bones, copper, metal and plastics and sells them to waste recycling companies for a profit. She doesn’t have a special warehouse to store waste and uses her front yard as a collecting point.

She has been doing this business for last five years and her working capital has reached 3,089,000 MNT.

Otgonchimeg is planning to connect her house to centralized pure and sewage water line. Therefore she needs 1,600 USD to pay for the labor cost to the construction company for connecting her house to the line. She is going to repay her loan from her business profit.

Additional Information

About Credit Mongol

Credit 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.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Otgonchimeg to pay for the labor cost to the construction company for connecting her house to a centralized pure and waste water line.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 23, 2011
Listed
Jun 29, 2011
Currency Exchange Loss:
Covered
Ended:
May 17, 2013