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Otgonbaatar
Otgonbaatar, 55, lives with his family in an apartment. He has only one son who is 29 years old and lives with his parents.

Otgonbaatar has been working at the Mongolian Railway Company as a welder for many years. Now he is a guard for the company, since he is going to retire soon.

His dream is to build a house for his son and help him to start his life. Fortunately, he already started building the house and is 90 percent finished. Now he needs funding to finish the house and he is requesting a loan for it.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,264.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Otgonbaatar to finish building a house for his son.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 28, 2011
Listed
Oct 7, 2011
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2013