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Bayarjargal
Mrs. Bayarjargal, 48, is requesting a loan to complete building her family house. She lives with her family in a ger district of Mongolian nomadic yurts in Ulaanbaatar, the capital of Mongolia. She owns a small common apartment with 20 rooms on her land plot and she leases it to the citizens from rural areas. Currently her family is living in one of the rooms and it is not so spacious to live in with her big family. Last year, she and her husband decided to build their own family house and started it. But due to the money shortage, her housebuilding has been stopped in the last months. She planned to build her new house with wall insulation and to install an electric heating panel to assist or replace the coal-fired stove in winter. Now she needs to buy some building materials and an electric heating panel for building her family house.

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
  • 1,357.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,075 helped Bayarjargal to buy some building materials and an electric heating panel for building her family house.
98% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 15, 2012
Listed
Aug 21, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013