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October
Mrs. October, 27 years old, lives with her husband and mother in Ulaanbaatar, the capital city of Mongolia. She works as an accountant for a local bank and her husband renders a taxi service. Her mother works at a company that sells cosmetics. She has been working for four consecutive years in the banking sector, moving from teller to accountant. As winter comes to Mongolia, their home and automobile are freezing, so they decided to build a garage next to their house. The garage will keep the car unfrozen and stop the house from losing its heat. The constantly frozen car has several disadvantages such as emitting harmful chemicals into atmosphere and using more natural gas to operate. She is requesting a 2,000,000 MNT loan to buy construction materials and hire builders. If the garage is built, it will benefit many things such as the family's wellbeing, house heating, automobile operation and most importantly 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped October to build a garage.
92% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 7, 2012
Listed
Dec 5, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014