He started his career after he had just graduated from secondary school in order to have a life challenge. His job starts at 7am and finishes at 11pm at night on weekdays. Now he lives with his brother and his family in the slum district of Ulaanbaatar, the capital city of Mongolia.
Recently, he decided to move out to start his own individual life. To do so, he needs a complete ger (a traditional Mongolian nomadic tent) with insulation on the walls before this coming cold winter. Therefore, his loan will be used to cover the payment for a new ger for himself.
About Credit MongolCredit 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.
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Success!! The loan was 100% repaid