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Mr. Gombotseren, 54, runs a passenger transportation business around the districts of Ulaanbaatar, the capital of Mongolia, with his minivan. He has been operating his business successfully for 8 years.

He lives with his wife and daughter, a college student, in a ger, a Mongolian traditional nomadic yurt in the ger district in the city. Living in the ger is difficult, and cold in winter. His wife and daughter always get sick due to the cold inside the home.

Therefore, he has decided to build his own small and warm family house. He recently started building his house. Now, he needs to buy wall insulation materials for his new house, including cement, foam, rock, wool etc. The loan he is taking will be dedicated to paying for the building materials.

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 $1,450 helped Gombotseren to pay for building materials.
97% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Aug 31, 2012
Sep 19, 2012
Currency Exchange Loss:
Oct 17, 2013