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Bilguun
Mr. Bilguun, 27 years old, lives with his family in Darkhan, the second-largest city of Mongolia. Since 2008, he has been working at a steel mill. He began as a coal heaver, and then advanced his career by becoming an assistant, an operator, and now a shift foreman. His wife is an elementary school teacher, but now stays at home with their infant child, who is one year old. Their first son, four years old, goes to kindergarten. Bilguun's mother is retired from work and lives with them.

The family resides in their own house on a plot of land. As winter comes to Mongolia, the family is in urgent need of an insulated house -- if not, the mother and baby will be frozen to their core and may get sick. So Bilguun is requesting a loan of 5,000,000 MNT to purchase construction materials such as bricks, foam, fiberglass and cement.

As a result of the construction, the family will be able to live in a comfortable and warm place. At the same time, the borrower will be able to work without worrying about the well-being of his wife and children. Most importantly, an insulated house can conserve energy and keep its warmth, and it will reduce the consumption of coal, thus contributing to the efforts against air pollution.

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
  • $15,307,900
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,625 helped Bilguun to purchase construction materials such as bricks, foam, fiberglass and cement, to use for insulating his family's home.
53% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 3, 2013
Listed
Jan 6, 2013
Currency Exchange Loss:
Possible