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Altanbagana, 31 years old, lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia.

He has been working as a mechanical engineer at a transportation and renting service for six years. Another income source for his family is renting of a microvan. His wife is currently unemployed due to eye surgery. His daughter goes to high school.

The house they live in has been deteriorating over the years and needs some serious repair. Also, a coming Mongolian traditional celebration known as White Moon encourages families to renovate their houses because during this festival, Mongolians renew everything as a means of welcoming the new year.

So he is requesting a loan of 3,000,000 MNT to purchase construction materials such as cement, concrete, planks, bricks and gypsum. As a result, the family will be able to live in a comfortable and warm place and they can greet the White Moon festival with joy and happiness. In addition, during this period of year, construction materials are much cheaper than usual and a renovated house has benefits of not losing heat and preserving energy, thus reducing the consumption of coal greatly and thus contributing 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 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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Altanbagana to purchase construction materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 24, 2013
Jan 25, 2013
Currency Exchange Loss:
Feb 17, 2015