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Buyanjargal is a 29-year-old single guy who lives with his mother in an outer ger district (a ger is a traditional Mongolian nomadic felt housing tent similar to a yurt) of the city. He has been working in a Korean restaurant as a chef while his mother works as a cleaner at a local police station.

He is prepared to live with his fiancee at his current house but his house is very cold during the winter season, so he needs to set up a heating system. "I don't want to live with my future spouse in the cold, uncomfortable condition because we plan to have a baby very soon," he said. Thus, this loan will be used to set up a heating system and to make some renovations on his old unsafe house.

Additional Information

About Transcapital

Transcapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.

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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,550 helped Buyanjargal to make some renovations before his wedding.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 13, 2012
Sep 22, 2012
Currency Exchange Loss:
Oct 22, 2012