Byambasuren runs a small flour mill and produces two types flour. He has been in business since 2009 and his earnings do not meet his family's needs.
In 2009, Byambasuren bought a small piece of land to build his second flour mill. And he started to build a house on the land.
But the house is not built due to have a money luck. Therefore, he is taking out a loan to purchase building materials to finish his house.
By the way, Byambasuren and his wife are very hard working and honorable.
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