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Ganzorig
Mr. Ganzorig, 31, is a military man. He lives with his son and wife in an old wooden house, which was built in the early 1980s in Kherlen, a boundary town of Mongolia.

Last Fall, he began the renovations to his old house, but still has not finished, due to a lack of money. He particularly needs some money to purchase the building materials to complete the building. He wants to finish it before next Fall and now just needs to complete certain parts, such as windows, doors and wall insulation. Therefore he will be using his loan to purchase the building materials necessary to renovate his old house.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,360.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Ganzorig to purchase the building materials necessary to renovate his old house.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 19, 2012
Listed
Feb 6, 2012
Currency Exchange Loss:
Covered
Ended:
May 15, 2012