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Otgonjargal
Mrs. Otgonjargal, forty-four, runs a grocery store in Darkhan, the second largest city in Mongolia. She lives with her parents-in-law and her husband and two children in her new house. Her husband plants vegetables in their backyard for their private use. She and her husband built a new house in 2010 and some decoration and building parts still have not been completed due to the lack of funding. Previously, they used to live in a ger, a Mongolian traditional nomadic tent. Usually a ger is cold and uncomfortable to live in for big families.

Otgonjargal needs a loan to buy a heated-floor rather than using one of the smoky and harmful coal furnaces. These cost too much, especially in winter time. Coal usage creates a lot of air pollution and is toxic to the air in the cities of Mongolia. In last several years, air pollution and air quality has become one of the biggest issues in most Mongolian households and big cities.

Otgonjargal is also planning to use some part of her loan to increase the groceries in her grocery store. This will expand her sales volume and increase her business earnings.

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
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,525 helped Otgonjargal to buy a heated-floor to heat her house so she doesn't need a smokey and harmful coal furnace.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 18, 2012
Listed
May 23, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014