Lkhagvesuren has an only daughter who is grown up and lives separately with her family. Lkhagvasuren loves his daughter very much and always helps and supports his daughter and her family financially and by whatever means he can. Recently his daughter bought an old house which needs some restoration. With the money borrowed from Credit Mongol, Lkhagvasuren wants to buy building materials such as insulation materials, bricks, wood planks, paint, cement, new plumbing pipes and make his daughter's house well insulated from the winter cold and more energy efficient by insulating it. As you know, Ulaanbaatar city is one of the coldest capital cities in the World. The money will be used to restore his only daughter’s old house and to make it more energy efficient and warm.
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 MongolCredit 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.
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