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Bayarjargal
Mr. Bayarjargal, 28, works as an electrician in the power plant in Dornod, an eastern province of Mongolia. He is one of the skilled staff with six consecutive years of experience. Currently he lives with his wife and his two babies in his sister’s ger, a nomadic Mongolian traditional yurt. Recently he purchased a small plot of land with their savings for his family's needs. Then he started building a small house there. But suddenly he is faced with a shortage of money to buy the building materials. The building work is in the middle stages at the moment and he really wants to complete the outside work before this winter. With babies, living in a ger is very hard and cold in wintertime. He is planning to insulate the wall of his house with this loan.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Bayarjargal to insulate the wall of his house.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2012
Listed
Sep 4, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012