Since 2003, Erdenekhuyag has had a micro bus with 14 seats and with his wife runs a transportation business between Ulaanbaatar and a province 800 km away. He runs three times minimum in a month to Zavkhan province.
As his children grow the house is feeling smaller. Therefore Erdenekhuyag is planning to expand his house by building a new floor with wood and laying bricks on the outer side of the walls in order to stop the heat loss through the walls. By doing this Erdenekhuyag’s family can improve their living condition and will have a spacious house that will serve them the rest of their life.
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 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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