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Chimeddorj
Mr. Chimeddorj, 27, is a fireman in the security service of the airport in Ulaanbaatar, the capital city of Mongolia. He has been in his job for five years, and his monthly salary usually does not meet his family's necessities. He is unmarried and lives with his father and his two younger sisters.

They live in a house that was built in early part of 1970. Lately it has became old and difficult to live in because it has been damaged in its all parts such as the roof, walls and internal decoration. He is planning to make insulation in its wall at first due to the cold and heat loss during the wintertime. It is important to warm his house and to reduce further smoky coal usage. Also, he will buy an electric furnace for his house heating. According to his plan, the smoky coal usage of his family will be stopped after these renovations at his home.

The loan he is taking will be used to purchase the building materials to make adjustments to his house and purchase the electric furnace for smokeless heating.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Chimeddorj to purchase the building materials to make adjustments to his house and purchase the electric furnace for smokeless heating.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 24, 2011
Listed
Dec 5, 2011
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2012