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Lkhagva-Erdene
Mr. Lkhagva-Erdene, 31, is a railway man and he has been doing this job for 5 years nonstop. He lives with his wife and their child in Ulaanbaatar, which is the capital city of Mongolia, in a small family house in the ger district, an area of the city with no running water, minimal roads, and spotty electricity. His wife works as a cook for the same company. In the winter, the family's house loses much heat though its door. So with this loan, he wants to cut the heat loss by building a small entrance room. The loan will be used to buy the building materials to build the entrance room.

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
  • $15,366,300
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,475 helped Lkhagva-Erdene to build an entrance room to his house.
94% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2012
Listed
Aug 29, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014