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Munkhragchaa
Munkhragchaa, 30 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. He has been running a taxi service for six years and his wife works as a technologist in a state-owned bread-selling company.

As winter arrives in Mongolia, the couple is in urgent need of insulation for their home. So he is requesting a loan of 3,000,000 MNT to buy insulating materials. An insulated home will reduce heat loss so the family will burn less coal and in return it will contribute to environmental protection.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,398.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,150 helped Munkhragchaa to buy materials to insulate his home.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Dec 9, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014