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Magsar is a 39-year-old carpenter who lives with his family in the outer ger district without the basic infrastructure of Ulaabaatar city, Mongolia. His spouse is a doctor for a local kindergarten, and their son and daughter both attend secondary school.

Previously, his family was living in a traditional Mongolian felt tent. Now the family lives in a new small house, which they built. In Mongolia, the Winter is very cold, and he needs to install a heating system on his house. So he is requesting a 2,000,000 Mongolian Tugriks (MNT) loan to purchase support materials for setting up the heating system.

He is also a very trusted client of Transcapital Co Ltd.

Additional Information

About Transcapital

Transcapital 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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Magsar to set up a heating system for his house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 19, 2011
Jan 4, 2012
Currency Exchange Loss:
May 15, 2012