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Davaanyam
Mr. Davaanyam, 51, is a watchman. He is a very neat and hardworking person. His wife works as a master in the same company. They live in a ger district (a ger is a Mongolian traditional yurt) in the boundary district of Ulaanbaatar, the capital city of Mongolia. Currently, he is repairing and renovating his house and adding a fence. But, due to a money shortage, some renovations have been stopped for awhile. So, he is requesting a loan to continue his home's renovations. First of all, he will install a water-heated furnace to his house. He uses a coal-fired stove to warm his home, but it usually does not work. So, he wants to install a water-heat line. It is less harmful to the environment than a coal-fired stove. The loan he is taking out will be dedicated to covering the cost of building materials and hiring workers to install a water-heat line to his house.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,900 helped Davaanyam to cover the cost of building materials and hire workers to install the water-heat line to his house.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2012
Listed
Sep 24, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014