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Gan-Erdene
Mr. Gan-Erdene, 45, lives with his wife and 2 children, ages 21 and 14, in a small wooden house in Erdenet, the third biggest city of Mongolia. He has been working in a local mining company as a lathe operator since 1994. Gan-Erdene’s wife is a disabled person, so he is the only one who works in the family. His daughter studies at a local university and his son is a high-school student. While his children are growing, Gan-Erdene’s house seems smaller. So, he has decided to take a 4,500,000 MNT loan to build a big, but energy efficient, house. It means that he will be able to add good wall insulation to his house. Average temperatures of the country are around -30° C from November through March, and are about freezing in April and October. January and February averages of -20° C are common, with winter nights of -40° C occurring most years. He said that “Using less energy to heat the house will be his contribution to the environment, and every person should do that”.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,425 helped Gan-Erdene to build a big, but energy efficient house.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 7, 2012
Listed
Jun 21, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014