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Bayarsaikhan
Mr. Bayarsaikhan is 38 years old and lives with his wife and 2 children in his wooden house in Erdenet, the third largest city of Mongolia. This city was built in the1970s, leaning on the large copper deposit which is called Erdenet. Since 2000, Bayarsaikhan has been working as a blaster in a local mining company. His children are 16 and 7 and attend local schools. His wife runs a taxi business using their car.
He bought his house in 2008 with money he earned since 2002. The global economic crisis let him a buy house because all real estate prices fell. Before the winter he is planning to thicken his house walls by brick and fiberglass insulation and to replace his wooden windows with double-glazed new ones to burn less charcoal and wood. By doing this his family will cut the usage of charcoal which has being called the primary source of air pollution. The loan Bayarsaikhan is taking will be used to complete this work in order to improve the energy-efficiency of his 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,382.3
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,625 helped Bayarsaikhan to brick up his house with brick and fiberglass insulation and install double-glazed windows in order to improve the energy-efficiency of his house.
94% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 27, 2012
Listed
Oct 30, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014