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Undrakh
Mrs. Undrakh, 29, is a hairdresser who rents a cellar room for 150,000 MNT a month. She has been running her business for three years nonstop. She lives with her parents in an old common apartment, which is in the boundary district of Ulaanbaatar, the capital city of Mongolia. Last May, her family purchased a small plot of land and a house in the ger district. A ger is a Mongolian traditional nomadic tent. The house still needs some extra repairs, especially to the walls, roof, floor, and windows. She hopes that her house will be comfortable and have less heat loss or emissions after the repairs. The loan she is taking will be dedicated to buying the building materials needed to insulate the walls and make other repairs to the house that her family bought.

Although Mongolia has the lowest population density in the world, it is one of the most polluted countries in the world. This is due to the long and cold winters where temperatures frequently go below -40C (-40F) even in the cities. Also, in winter, many parts of the country are extremely cold and are known to have snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from families just trying to stay warm. In response to this, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss and improve heating systems. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,325.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,775 helped Undrakh to buy materials to insulate and repair her house.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2012
Listed
Jun 24, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014