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Munkhbold
Mr. Munkhbold, 47 years old, lives with his family in Dornod, an eastern province of Mongolia. The family resides in their own house on a plot of land.

In October, 2012 he started working as a security officer at a wrestling stadium. His wife gets a disability pension from the state, and his son works in the construction field. His daughter works as an assistant at a sausage factory.

As his son became an adult and got married, it become necessary to live separately from his parents in another house. So beginning last summer, father and son began building a house, but due to lack of financing, they haven’t finished the building work. Therefore, Munkhbold is requesting a loan of 1,500,000 MNT to purchase construction materials.

As a result, his son can live with his own family at his own house without living in his father’s home. The borrower is a very hardworking person who strives for his children’s better future.

Additional Information

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Munkhbold to purchase construction materials to build a house for his newly married son.
90% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 3, 2013
Listed
Jan 7, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014