Narangarav has been working at a pet shop since 2009, and currently she looks after her newborn baby. Her husband works as a machinist at a local company. The family lives in an old small house, in which they have been doing some renovation work. They haven’t finished their renovation work yet; today Narangarav needs some bricks, wood, and other essential materials to finish her housing work. Therefore, she is requesting a 2,000,000 Mongolian Tughrik (MNT) loan to purchase construction materials.
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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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