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Nyamjargal
Mr. Nyamjargal, 34 years old, lives with his wife and son in Darkhan, the second-largest city of Mongolia. He has been working as a coal preparer in a steel mill for three years. Before working in Darkhan, he worked in a coal mine. His wife works as a seller in a local supermarket. The family resides in their own house on a plot of land. Their son goes to kindergarten.

As winter comes to Mongolia, the badly damaged house they live in becomes vulnerable to storms and frost. So they decided to insulate the house, as well as do some interior repairs. In order to make it happen, they are requesting a loan of 5,000,000 MNT to purchase construction materials, such as bricks, foam, fiberglass and cement.

Insulating their house will decrease the family's coal usage, contributing to environmental protection by reducing smoke emissions. Nyamjargal is a very hard-working individual, who strives for a better life, together with his family.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    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 Nyamjargal to purchase construction materials to use for insulating his family's house and carrying out interior repairs.
61% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 3, 2013
Listed
Jan 6, 2013
Currency Exchange Loss:
Possible