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Mungun-Ochir
Mr. Mungun-Ochir, 30 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. His wife works as a washerwoman at a private business entity. He himself provides taxi service to local people, and his main route for taxi service is between the post office and the train station. The house they live in has deteriorated over the years and needs some interior repair. Also, he needs an automobile garage. He is requesting a loan of 5,000,000 MNT to buy construction materials, such as wood, concrete, gypsum and bricks. At this time, the price of construction materials is at its lowest, and he can save a considerable amount of money. The renovated house can provide a comfortable and warm place for the family, which will burn less coal in winter time. The garage that he will build can shelter his car from external hazards, such as storm, frost and excess heat. A well-protected automobile emits less smoke, due to efficiency in consuming its fuel, and thus contributes greatly to the efforts to limit 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,625 helped Mungun-Ochir to purchase construction materials to repair his house and build a garage for his taxi.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Jan 21, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2015