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Lkhagvesuren
Mr. Lkhagvasuren, 57, lives with his wife in a 'ger' (slum) district of Ulaanbaatar, the capital city of Mongolia. They own a small wooden house and plot of land. His wife is a pensioner and looks after the house. Mr. Lkhagvasuren runs a small business which helps foreign citizens and tourists coming to Mongolia. He takes his clients around the city, showing all sights and places of interest using his car. He has been doing this business for a while and has a very good experience in guiding and transporting the clients. He is very reliable and a knowledgeable person.

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.

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
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,318.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,225 helped Lkhagvesuren to buy building materials such as insulation materials, bricks, wood planks, paint, cement, new plumbing pipes and to make his daughter's house well insulated from the winter cold and more energy efficient.
99% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2012
Listed
Jun 19, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013