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Chuluungerel
Mrs. Chuluungerel, 27, runs a taxi around Kherlen, an eastern city in Mongolia. She has been operating her business for the last few years. Her husband works in Korea as a laborer to earn extra profit for his family. Currently Chuluungerel is living with her 2 children in her old and bad house which was built many years ago.

Lately her house has been bad and losing heat through its door and windows. In this response she must burn too much coal to warm her home in winter. Her two kids always get sick due to the cold inside the home. Therefore, she decided to build an entrance room to her house. As she thinks anyhow, the house will be warmer after the extension, which will protect from the cold air or wind. The loan she is taking will be used to buy the building materials to build an entrance room to her old house.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,357.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,225 helped Chuluungerel to buy the building materials to build an entrance room to her old house.
90% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 27, 2012
Listed
Aug 23, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014