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Ankhbaatar
Mr. Ankhbaatar, 41, runs a passenger transportation business around Ulaanbaatar, the capital city of Mongolia. Since last year he has been running his business and he has already had many customers and gained enough experience in it. He lives with his wife and his 2 kids in an old wooden house which is in the slum district of the city.

Ankhbaatar needed a loan to renovate his old house in these coming months. The house was built in the early 1980s and has never been renovated since. The walls, roof and floor need to be insulated and the plumbing system needs to be replaced.

After renovations, the house should become well insulated from the cold weather, and coal usage and emission of smoke will be much reduced. At the same time, it will reduce air pollution around the city. Therefore, a loan will be dedicated to purchase the necessary building materials such as bricks, pipes, wood planks, paints and some insulation materials for his house renovation.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,360.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Ankhbaatar to purchase the necessary building materials such as bricks, pipes, wood planks, paints and some insulation materials for his house renovation.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 27, 2012
Listed
Feb 4, 2012
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2012