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Zorigt, 47, is a mechanical engineer. But he is unemployed and he runs a taxi business using his old car. He has been running his business since 2004, after he left his job. Sometimes he employs the service of old Russian cars cheaply, around his neighborhoods and acquaintances. He lives with his wife, children, his oldest brother and his brother's wife in their plot of land in Kherlen, an eastern city of Mongolia.
They own a small, old house which was built in earlier times. In the last few years, the house has been bad and in need of urgent renovations. In winter time it costs a lot of money to buy the smoky coal and warm his house due to the heating loss through the walls and windows. This is because his house’s wall insulations have all become bad and have been removed. Smoky coal usage has been one of biggest issues in most Mongolian households and cities.
So Zorigt is planning to make a renovation to his old house in the summer. The loan he is taking will be used to buy the necessary building materials for insulation and other decorations in his house.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $3,075 helped Zorigt to buy the necessary building materials for insulation and other decorations in his house.
Repayment Term
38 months (Additional Information)
Repayment Schedule
May 14, 2012
May 16, 2012
Currency Exchange Loss:
Jun 15, 2012