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Bolormaa
O. Bolormaa, 42 sells casual clothes in the market. She started her business 8 years ago and has been operating her business successfully nonstop ever since. She lives with her family in her parent-in-laws` house. Recently her family purchased an old house in the ger district, which is comprised of traditional Mongolian nomadic yurts and houses in Ulaanbaatar, the capital city of Mongolia. Since then, she has not made any repairs or renovations to it. In winter it becomes too cold to live due to the heat loss through the door and window of the living room. Her daughters always get sick due to the cold at home. So she decided to repair her house, and the first thing she will do is insulate the wall. She hopes it will reduce the emission through the window of the living room and her need to use the toxic coal fuel. She needs about 5.000.000 MNT to fulfill her plan.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,650 helped Bolormaa to repair her house so it will be warmer.
94% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2012
Listed
Sep 14, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014