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Otgonjargal
Mr. Otgonjargal, 34 years old, lives with his wife and three children in Ulaanbaatar, capital city of Mongolia. He has been working as a security guard in a market since 2011. He works a 24-hour shift, followed by 48 hours off. And during his day off, he renders taxi service to local people.

His house has been heavily damaged over the years, and as winter comes to Mongolia, the wind is blowing hard and chilling the family to its core. So he is requesting the loan of 5,000,000 MNT to buy insulating and construction materials. As a result of repairs and insulation, the family will live in a comfortable place, while burning less fuel for heat. This 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 purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,399.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,575 helped Otgonjargal to buy insulating and construction materials, to weather-proof and repair his family's house.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 7, 2012
Listed
Dec 13, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015