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Tsogtbayar
Mr. Tsogtbayar, 47 years old, lives with his wife, daughter and niece in Ulaanbaatar, the capital city of Mongolia. His wife gets a disability pension from the state, and his daughter works as an organizer at a private business entity. He himself operates an auto crane and now works with a private construction business entity on contract.

In 2004, he built his own house with planks, and in eight years, the house has deteriorated very badly and needs some serious repair. Repairing work includes but is not limited to encasing it with bricks and interior decoration.

In this time of year, the construction materials price is at its lowest and purchasing them now will save a considerable amount of money. So he is requesting a loan of 6,800,000 MNT (Mongolian tugriks) to purchase construction materials such as cement, gypsum board, bricks and glass cotton, etc. As a result, the family can live in a comfortable and warm place. Also in cold periods, the family will burn less coal due to a renovated house, and a reduction of coal usage contributes to the efforts against 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
  • 1,387.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,925 helped Tsogtbayar to purchase construction materials.
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