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Amartungalag
Mrs. Amartungalag, forty-six, runs a retail business in the market. She lives with her family in her old house which is in Darkhan, the second largest city of Mongolia. She has been running her business since 2000 and she started her business selling fruit and vegetables in the outdoor market. Then she expanded her business into the retailing toys and souvenirs in addition to the fruit sales.

Since 2008 she has been building a small new house on her plot of land using her business earnings. Now she needs to decorate the inside of her house and install a steam-heating system. She really believes this will contribute to reducing harmful coal usage and hence reduce air pollution around the cities. On the market, this system is a bit expensive. Therefore Amartungalag needed a loan to purchase the necessary materials for decorating her house and to cover the cost of purchasing the environmental steam-heated furnace.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,300 helped Amartungalag to purchase building materials to decorate her house and to cover the cost of an environmental steam-heated furnace.
93% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Apr 10, 2012
Listed
Apr 23, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013