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.
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 MongolCredit 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.
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