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Mr. Songuuli, 36, is a taxi driver. He is taking a loan to complete the building of his new house. He has been operating his taxi business for five years and he has gained a lot of experience.

He lives with his parents in a ger (Mongolian traditional yurt) district in the boundary of Ulaanbaatar, which is the capital city of Mongolia. He is planning to insulate the walls to cut the usage of the coal-fired furnace and help warm his home. He is planning to insulate the roof hollow to lessen heat loss. He is requesting a loan to pay for the building materials such as foam, rock wool and cement to insulate his house.

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
  • $15,398,050
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $1,850 helped Songuuli to pay for building materials such as foam, rock wool and cement insulate his house.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 21, 2012
Sep 5, 2012
Currency Exchange Loss:
Oct 5, 2012