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Myagmar
Mr. Myagmar, 50 years old, lives with his wife and daughter in Ulaanbaatar, Mongolia. The family resides in their own house on plot of land. His older daughter lives separately from her parents and has an infant child. His wife stays at home and looks after her daughter’s infant child. He himself has been working as an electrician at a private business entity since 2010. His second daughter goes to secondary high school. He is requesting a loan of 2000000 MNT to purchase necessary construction materials and furniture. The construction materials will be used to cover the costs of repairing the outer shell of their house. As a result, the family can live in a comfortable and warm place since the renovated house won’t lose its heat easily. This will reduce the usage of coal and contribute 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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,380.3
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Myagmar to purchase construction materials to repair the exterior of his home.
94% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Jan 29, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014