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Narmandakh
Narmandakh is 30 years old. He lives alone in his small wooden house in Ulaanbaatar, the capital city of Mongolia. His parents live in the countryside. Narmandakh worked in Korea for seven years as a contract worker. Since 2011, he has run a taxi business in Mongolia. This year, Narmandakh has been building a house with 10 rooms in order to increase his income by renting to students who come from the countryside. The house is 80 percent complete. This loan will be used to complete his building. Narmandakh plans to install an electric heating system instead of a charcoal burning stove, and he plans to connect the house to the central sewer line. By doing this, he can cut the use of charcoal and protect the environment by preventing contamination from the outside toilet.

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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,800 helped Narmandakh to complete his house.
55% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 5, 2012
Listed
Dec 2, 2012
Currency Exchange Loss:
Possible