Battogtokh is requesting a 2,500,000 MNT (Mongolian Tugriks) loan to purchase necessary construction materials to finish his housing project. In order to complete the construction work, he needs to buy materials for the roof covering and interior structure as well. His family is currently living in a ger (Mongolian Yurt) at his sister’s plot of land until he finishes the construction.
Battogtokh's 11-year-old son attends the local secondary school while his wife looks after their 3-year-old daughter and stays at home. He is a responsible and ambitious man who is willing to provide a good quality life for his family. He is very thankful to the lenders who are giving him an opportunity to finish the 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