Moonon always wants his children to move out and start their individual lives immediately. His elder son, Ariunbold, will be married in next month, before the Christmas day. Therefore, his father Moonon wants to prepare his wedding gift, a ger. A ger is the nomadic Mongolian traditional tent and it does not cost so much in the markets of Mongolia. It consists of its wall, made by sheep's wool and other parts made of wood. Historically, Mongolians have been living and using the ger for their nomadic life for many hundreds of years. The loan Moonon is taking will be used to cover the cost of new ger for his son’s wedding.
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