The family lived in a ger, a traditional felt tent, in his relative's yard. It was very hard to live in someone else's yard. With his and his wife's hardwork, they bought a small yard for their family.
According to the summer season, Galbadrakh will build a small house for his family in order to improve the living conditions for his spouse and son. Thus, he is requesting a 1,500,000 MNT (Mongolian Tugriks) loan to buy essential building materials.
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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Success!! The loan was 100% repaid