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Lkhagva
Lkhagva, 58 years old, lives with his two sons in Ulaanbaatar, the capital city of Mongolia. One of his sons works as a driver and explosive engineer at a mining company. His other son works in Korea on an employment contract and transfers money in urgent situations. Lkhagva himself has been working as a gate keeper at a kindergarten since 2008. The house in which his family resides has been deteriorating over the years and needs serious repair. Also, as winter approaches Mongolia, the automobile garage they use is in need of insulation.

Thus, he is requesting a loan of 6800000 MNT to purchase construction materials such as planks, panels, independent ceiling, doors, vacuum insulated windows, bricks, blocks, cement, sand, pebbles and an iron roof. As a result, his family will be able to live in a warm and comfortable home while parking their car in an insulated garage. Most importantly, his family will burn less coal to heat their house, thus contributing to the efforts against air pollution. Additionally, a car parked in a warm garage has the benefits of stable usage, lower fuel consumption, and lower probability of breaking down compared to automobiles parked outside.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,900 helped Lkhagva to purchase construction materials.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 4, 2013
Listed
Jan 7, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2015