Check out some available loans that are similar to this one!
Otgonchuluun
Otgonchuluun, 46 years old, lives with his wife in his two-room apartment in Darkhan, the second largest city of Mongolia. He has been running a baths business with his wife for several years. Before starting his business, Otgonchuluun was a plumbing teacher at a local school with specialized training. His wife manages a NGO that protects women’s rights.

He said that his baths business is helping people who are not able to take a shower at home. Otognchuluun’s baths business is located in the ger district, an area of the city with no running water, minimal roads, and spotty electricity.

He uses a charcoal burning stove to warm the cold water, which comes from a well. The smoke, containing dust and harmful chemicals, from the charcoal burning stove is becoming the primary source of air pollution and adversely affects people's health and environment. So, he is planning to buy solar panels and to install them on the roof of his baths.

The loan Othgonchuluun is taking will be used to install solar panels to warm the cold water. By doing this, he can cut the usage of charcoal by several times.

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 Mongolia

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    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 Otgonchuluun to buy solar panels and install them on the roof of his baths with the aim of cutting the usage of charcoal.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 21, 2012
Listed
Oct 25, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014