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Moonon
Mr. Moonon, 49, is retired and lives with his wife and 4 children in the slum district of Ulaanbaatar, the capital city of Mongolia. All of his children still live together with their parents. Moonon was an army man and has worked as a colonel of the Mongolian Military Force.

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.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    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 Moonon to cover the cost of a new ger for his son’s wedding.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2011
Listed
Nov 22, 2011
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2013