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Amgalan
Mr. Amgalan, 51, is a taxi driver, and he is taking a loan to complete his new house building. He has been operating his taxi business for seven years nonstop and he has gained a lot of experience in it. All of his children moved out and now he lives with his wife in a ger, a nomadic Mongolian traditional yurt in Ulaanbaatar, which is the capital city of Mongolia. His wife is a teacher. He is planning to add insulation to the walls, and it will be helpful to cut the usage of the coal-fired furnace and to live warmer at home. He is also planning to insulate the roof hollow due to the heat loss through it.

So he is requesting a loan to pay for the building materials such as foam, rock wool, and cement to make the insulation for his new 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,341,800
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $4,400 helped Amgalan to pay for the building materials such as foam, rock wool, and cement for making the insulation to his new family house.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 24, 2012
Listed
Sep 1, 2012
Currency Exchange Loss:
Possible
Expired:
Oct 1, 2012