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Ariunjargal
Ariunjargal is 46 years old lives in the 'ger' district, an area of the city with no running water, minimal roads and spotty electricity, in Ulaanbaatar, the capital city of Mongolia. He operates a carpentry business with his wife in their home province. He manufactures wooden furniture and his wife helps with the business. They produce a variety of wooden furniture products including chairs, tables, sofas and wardrobes. This autumn his house burned down.

Before the winter he wants to reconstruct his burned wooden house. He is planning to use bricks to thicken house walls from the outside and basalt wool from the inside. He plans to exchange the broken windows for double-glazed windows to stop the heat loss and exchange his house interior decoration using energy-saving materials. He wants to install a low-pressure furnace which generates fewer harmful chemicals into the atmosphere in order to save the environment.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Ariunjargal to reconstruct his burned wooden house.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 6, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014