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Mr. Baasansuren, 52, has been working as a driver in a company for 10 years. He lives with his 2 children and his wife in the suburbs of Ulaanbaatar, the capital city of Mongolia. Since his monthly salary usually does not meet his family's expenses, he always lends from people and financial institutions.

Recently Baasansuren built a new house on his small piece of land and could not finish the building completely. He especially needs to install a low-pressure furnace and panel-heating system, important factors to cut down his coal-fuel usage. It will also help the environment by decreasing the harmful effects from coal usage. The loan Baasansuren is taking will be dedicated to purchasing the new low-pressure furnace and panel-heating parts.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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 Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Baasansuren to purchase a new low-pressure furnace and panel-heating parts to cut coal usage.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 3, 2011
Nov 14, 2011
Currency Exchange Loss:
May 15, 2012