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Bolormaa
Bolormaa, 30, is a seamstress in a private tailoring company. She has been working since last year. She is unmarried and lives with her retired parents and her two kids in the slum district of Darkhan, the second largest city in Mongolia. They own an old house which was built early in the 1970s. The walls, roof, and floor need to be insulated and the plumbing system needs to be replaced.

After renovation the house should be 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 purchasing the necessary building materials such as bricks, pipes, wood planks, paints and some insulation materials for her old house renovation.

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
  • 1,325.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Bolormaa to purchase necessary building materials such as bricks, pipes, wood planks, paint and some insulation materials for her house renovation.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 9, 2012
Listed
Feb 21, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 17, 2013