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Jargalsaikhan
Mr. Jargalsaikhan, age 58, has been employed as a driver at a private business entity for the past 24 years. He lives with his wife and four children in Dornod, an eastern province of Mongolia. His eldest daughter works as a saleswoman in a supermarket, the second-eldest daughter studies at university, and the two youngest children attend high school. His wife, age 53, is a homemaker.

The house the family lives in has deteriorated over the years and needs some serious repair. Also, since the children are growing each day, the house has reached its capacity in terms of space. For this reason, Mr. Jargalsaikhan is requesting a loan in the amount of 1,500,000 MNT, which he will use to purchase construction materials such as planks, bricks, cement, and dry boards. He will utilize these materials to repair the house and to build a barn. As a result, the family will be able to live in a more comfortable and spacious place. Most importantly, the renovated house will enable the family to burn less coal, thus contributing to the efforts against air pollution.

At this time of year, the price of construction materials is usually at its lowest, so purchasing them now will save a considerable amount of money for the family.

Mr. Jargalsaikhan is a very hard-working individual who would like to see all his children successfully employed in the future.

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
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,100 helped Jargalsaikhan to purchase construction materials such as planks, bricks, and cement.
52% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Feb 4, 2013
Currency Exchange Loss:
Possible