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Naranchimeg
Naranchimeg is 35 years old and has one child. She lives in her old wooden house in Ulaanbaatar, the capital city of Mongolia. Her house is located in the ger district, an area of city with no running water, minimal roads, and spotty electricity. She works as a water distributor at a well near her home, which she has been doing for several years.

Naranchimeg's old house is in incredibly bad condition. Due to its old age and her lack of money, it has never been maintained. Over the last winter, she and her daughter lived in her parents' home. Burning charcoal in large quantities to overcome the cold winter days does not make sense. So, before the winter, Naranchimeg is requesting a loan, which she will use to thicken her house walls and to repair her house. She will reconstruct her house and thicken the walls with materials that keep the heat as long as possible. She will use brick to thicken house walls from the outside and basalt wool from the inside. By doing this, she can cut the usage of charcoal by several times compared to her current house.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,378.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,650 helped Naranchimeg to make wall insulation and to repair her house.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 20, 2012
Listed
Oct 25, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014