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Surenbaatar
Mr. Surenbaatar, 51, has worked as an engineer in a private company for 16 years. He lives with his family in his old and bad house in Kherlen, an eastern city in Mongolia. His house, which was built earlier of 1980’s, has gotten old and uncomfortable to live there. So he decided to make some renovations such as the wall insulation and purchasing a low-pressure furnace to get his house warmer. Also, he believes that it will cut the usage of the harmful and smokey coal usage throughout the whole year. In last several years, air pollution and air quality is one of the biggest issues in most Mongolian households and big cities. The loan he is taking will be used to cover the cost of low-pressure furnace and purchasing the building materials to make insulation to his old house walls.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,825 helped Surenbaatar to cover the cost of low-pressure furnace and purchasing the building materials to make insulation to his old house walls.
82% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2012
Listed
May 18, 2012
Currency Exchange Loss:
Possible