His family used to live in a ger (a traditional Mongolian felt tent) at another person’s land plot. Since then their business has expanded, hence with their business earnings, he bought a small plot and built their first house.
Batkhishig is requesting a 2,500,000 MNT (Mongolian tugriks) loan to buy vacuum-insulated windows, a sliding metal door and other necessary materials to fix and renovate his small house. By doing so, their family can enjoy safe and comfortable living conditions.
Since he started his business in 2007, Batkhishig’s life has considerably improved. He is a bright and hard-working man who is willing to raise his children in a good environment and with the help of this loan, he will get the opportunity to finish his housing project.
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