Mr. Bayarsaikhan is 47 years old and lives with his wife, mother and a 12-year-old son in his three-room apartment in Darkhan, the second largest city in Mongolia. His wife has started to work as an assistant doctor at a local company. His son attends a secondary school. Bayarsaikhan has been working as a freestyle wrestling coach since he graduated from the professional university in 1992. From 2006-2012 he worked as the state coach for the Olympic participants of Mongolia. Once his mission was completed, he returned to his hometown. He rented out his apartment while he was working in Ulaanbaatar. Now his apartment is in disrepair due to several other people who had rented his apartment. Therefore, Bayarsaikhan is planning to make some improvements to his apartment, such as changing all electricity cables to prevent fires, installing double-glazed windows and an electric radiant floor heating system, and thickening the house walls to stop heat loss. Bayarsaikhan said that the government gave him this apartment in 2002 in gratitude for his contribution to the development of freestyle wrestling in Mongolia. Therefore, he loves this house very much. The loan Bayarsaikhan is taking out will be used to maintain his house in order to stop the heat loss through the windows and walls. Also, he mentioned that his dream is to bring the Olympic gold medal in freestyle wrestling to Mongolia .
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 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.