Ariunbold lives with his family in an apartment in Ulaanbaatar, the capital of Mongolia. His apartment building was built in the socialist era and has not been completely maintained or renovated for many years. In winter, it becomes cold inside and has heat loss through its walls, windows and doors. Ariunbold usually uses a wood or coal-fired stove to heat the rooms, but it emits a toxic smoke in the air. Therefore, Ariunbold has decided to repair his bad apartment by adding wall insulation for more warmth and replacing the windows and floor. He hopes that his family can live in a warmer and more comfortable home after the repairs. This loan will be used to cover the cost of the building materials for the repairs.
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 MongolCredit 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.
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