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Narankhuu
Narankhuu, 45, runs a taxi business in Darkhan, the second largest city in Mongolia. He has been running his business for 2 years and his daily earnings are about 30,000 MNT total. He lives with his wife and his 3 children in a ger, a Mongolian traditional nomadic yurt which is on his plot of land. His wife is unemployed and 2 sons attend secondary school. Living in a ger is quite cold in the wintertime and it costs a lot for the heating by smoky coal. So he decided to build a new small house which will use a panel-heating system without any smoky coal usage. He thinks it is a very environmental and natural-oriented thing to decrease the air pollution around the city. Now he needs about 2,700,000 MNT to buy the necessary building materials to build his new family house.

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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,307.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,075 helped Narankhuu to buy the necessary building materials to build his new family house.
90% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2012
Listed
May 21, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014