His current house was built 10 years ago. Now it needs renovation, because the house has become old and poor. Before the rainy season, he plans to re-cover the roof and then enlarge the storeroom (depot) and do some interior work, because when it’s raining outside, it drips from under the roof. It’s really hard to live in when it’s leaking.
Thus, Enkhbaatar is requesting a MNT 1,500,000 (Mongolian Tugrik) loan to purchase roofing materials, wood, wallpaper, and other necessary construction materials for his housing work.
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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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