His wife is a student, but this year she is not studying because she is pregnant and will give birth in November. As he and his wife are expecting a baby, Batzorig has been building a new house on the land of his parents for his family and the house is 80% complete. The loan Batzorig is taking will be used to buy radiators and insulate the roof, floor, and walls with energy saving materials in order to stop the heat loss. If his new house will be warmer, less energy will be burnt. By doing this he and his family will improve their living condition and can cut the usage of coal to warm his house.
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 MongolCredit 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.
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Success!! The loan was 100% repaid