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Mr. Mungunbagana, 27, works as a manager in a private resort. He is unmarried and lives with his younger brother in a small old house which is located in the 'ger' district, a Mongolian nomadic yurt district of Ulaanbaatar, the capital city. His parents live in the countryside far away.

Mungunbagana decided to renovate his old house which was built in the early 1980s. Since then it still has not had any repairs and most of it has fallen into bad condition. So he is planning to do renovations to his house this spring and summer with his brother. Also he has a plan of installing a smokeless heating furnace at his home. He really believes that it will reduce air pollution and the worst influences on air around the city from the coal furnaces. It will be environmental and a natural-oriented idea, he thinks. The loan he is taking will be dedicated to purchasing the necessary building materials and covering the cost of purchasing a smokeless furnace for his home.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Mungunbagana to purchase necessary building materials and cover the cost of purchasing a smokeless furnace for his home.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 13, 2012
Apr 23, 2012
Currency Exchange Loss:
Jul 17, 2013