She has worked as a cleaner for 2 years and her husband works as a guard in a local private company. Her salary is $120 per month and her husband earns $200. Even though they have a low income, they live a life of full happiness. Otgontuya explains that her only wish is to provide her children with a good education. Due to their lack of money and its old age, her house is in a bad condition and requires significant repair. Her family is planning to make some changes including adding wall insulation, painting, and replacing wallpaper. The loan Otgontuya is taking will be used to make improvements in her house to improve their living condition and save the environment.
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 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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