Check out other loans that are currently fundraising!
Solongo
Mrs. Solongo, 42, runs a collection point for recycled materials in Ulaanbaatar, the capital city of Mongolia. She has been running her business alone for six years. She is widowed and she lives with her three children in her old house which is located in the 'ger' district of the city. Her business earnings do not usually suffice to meet her family necessities, because all of her children attend secondary school.

This summer she is planning to do some renovation on her old house that is in bad condition. One of them will be having a low-pressure furnace installed in it. In wintertime, her house becomes very cold to live in with a coal furnace. She also thinks it will be very useful and important to cut down on smoky coal usage.

Every year she pays a great deal to buy the coal for heating her home. It also makes the air pollution worse all around the city. Air pollution and air quality is becoming one of biggest issues in Mongolian households and big cities. The loan she is taking out will be used to cover the cost of a low-pressure furnace for her old 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 Mongolia

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Solongo to cover the cost of a low-pressure furnace for her old house.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 10, 2012
Listed
May 18, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013