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Erdenechimeg
Erdenechimeg, 45, works in a Mongolian army section as a telegrapher. She has been doing her job for 15 years nonstop. Erdenechimeg is a widow who lives with her three children in an old house which she recently bought. Her house loses heat through the walls and other areas. In winter it is very cold, and Erdenechimeg and her family feel very cold and must use a coal-fired stove to stay warm.

Erdenechimeg is requesting a loan to buy insulation materials such as foam, cement, and other materials to insulate her home. She hopes to insulate her home and repair it before winter. As Erdenechimeg says, "it will be very beneficial to reduce my cost to the coal purchasing. Yet, it will not be healthful to the environment unless I could reduce the coal usage in winter."

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Erdenechimeg to buy insulation materials, such as foam and cement, to insulate her home.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 6, 2012
Listed
Sep 22, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014