Sumiyadorj bought his house by leasing it for ten years in 2005. This July he fully paid-off the lease. In winter his house gets very cold and he uses a large amount coal to heat the house. When he is at his job, his wife and son are left in the house the whole day. Sumiyadorj said that after leaving his family in the cold house, he can't concentrate on what he is doing. For this reason, before the winter he has a plan to insulate the house by using energy-saving materials like glass-wool, double-glazed windows and bricks.
Sumiyadorj started insulating his house but in the middle of the job, his materials were used up. So Sumiyadorj is asking 2,500,000 MNT loan to complete his house insulation to overcome the cold winter days and to cut the usage of coal.
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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This loan has been fully funded!