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Altantsog
Mr. Altantsog is a 30-year-old taxi driver. He lives with his wife and two children in Ulaanbaatar--the capital city of Mongolia. He started a taxi business this year. His daily income is not yet sufficient to purchase the new ger (a traditional Mongolian nomadic tent) which his family needs. They currently live in a small, old ger. It has become old and uncomfortable to live in.
Altantsog is taking a loan to purchase a new ger to improve his family's life.

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
  • 1,224.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Altantsog to purchase a new ger (a Mongolian nomadic tent) for his family to live in.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 4, 2011
Listed
Aug 17, 2011
Currency Exchange Loss:
Covered
Ended:
May 15, 2012