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Tuvshinbayar
Tuvshinbayar is 23 years old. He lives with his mother and two younger brothers in their wooden house in Ulaanbaatar, the capital. His brothers are students. For the last 5 years Tuvshinbayar has been managing a food store with his mother. Tuvshinbayar says he works hard and to show his devotion to his brothers he wants to be like a father to them. Tuvshinbayar has never studied at university. Despite not having a chance to study and improve his skills, Tuvshinbayar is a naturally talented artist. Besides managing their store, Tuvshinbayar creates paintings on cars. Before the winter, Tuvshinbayar wants to install an electric floor heating system in the house to replace the coal burning furnace, in order to cut the usage of coal which releases harmful chemicals into the atmosphere.

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 Mongolia

  • $2,175
    Average annual income
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Tuvshinbayar to install an electric floor heating system.
94% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2012
Listed
Nov 18, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2014