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Erdenetsetseg
Mrs. Erdenetsetseg, 55, has run a retail business with her small company during the last three years. She lives with her family in the 'ger' district, an area with no running water, minimal roads and spotty electricity in Ulaanbaatar, which is the capital of Mongolia. Her family owns a small plot of land and a very old house.

Recently she started a family house on her land plot and it will be built by the "balks". But her house building work has been stopped for a month due to money shortage. Currently, she needs some money to replace the insulation in the walls and floor. As she plans, it will be warmer and convenient to live in her new house after putting in insulation. The loan she is taking will be dedicated to paying for wall insulation materials and a new warm floor.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,950 helped Erdenetsetseg to pay for wall insulation materials and a new warm floor.
98% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Aug 31, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013