Mr. Ganbat, 48 years old, lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. His wife began her work as a manager in June 2012 at a private business entity. His daughter studies at a medical college and this summer will graduate. She has a part-time job at a private hospital. Mr. Ganbat was employed as a driver initially by a particular company in 2012 and now works as head of the maintenance department. Before working on a full-time basis, he was running an automobile repair service. In 2009, his wife’s brother gave them a house and he has rented it to others since that time. Currently, the family lives in his close friend’s backyard and wants to move to their own house. The house, which was given by his wife’s brother, has deteriorated over the years and hasn’t received any repair for at least four years. So he is requesting a loan of 2,800,000 MNT to install a vacuum door, windows, and a ceiling and to repair the bathroom. As a result, the family can live in a comfortable place, which will motivate their hard work. Most importantly, the vacuum door and windows are an effective barrier for the upcoming strong storm and frost, enabling the house to keep its warmth versus the economic impact on coal consumption by the family. The family will burn less coal, thus contributing to the efforts against air pollution.
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.