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Jargal
Mr. Jargal is 48 years old, married, and a father of three children. He lives in Dornod, a province of Mongolia, with his wife and two children. He works as a welder at local thermal power station. He has been doing this job for five years, and he managed to buy his own land and a house. His wife is on the dole. He is a very diligent father and husband. He works hard to support his wife and two daughters. His elder son lives in Ulaanbaatar, the capital city of Mongolia. He just got married and started to build his own house. However, because of a lack of money he couldn’t finish the house before winter. Jargal is requesting a loan to help his son to purchase the building materials to finish building the house.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,341,800
    Funds lent in using Kiva
  • 1,279.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Jargal to purchase building materials.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 7, 2011
Listed
Oct 20, 2011
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013