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Altangerel
Mr. Altangerel, 30 works as a tester of plumbing in private construction. He has been doing his job for 2 years. He lives with his family in the ger district, a slum district with Mongolian traditional yurts and houses in Ulaanbaatar, the capital city of Mongolia. He has been building a new family house with a grocery store. But some building works are missing due to a money shortage to buy building materials. Specifically he is planning to make the wall insulation for his new house with foam, brick and rock wool. The loan he is taking will be dedicated to cover the cost of building materials for wall insulation.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Altangerel to cover the cost of building materials for wall insulation.
96% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 4, 2012
Listed
Sep 17, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014