The house they live in is far away from the city center and they have difficulty accessing day-to-day activities such as shopping, transfer of cash and going to work, etc., so he is requesting a loan of 4,000,000 MNT to add to his savings for purchasing a house which is near to the city center. Over the past years he has accumulated a cash amount of 14,000,000 MNT and the price of his desired house is 18,000,000 MNT. As a result, the family can live in a strategically-located house where banks, shops and work places are easy to access. The borrower is a very hardworking individual who strives for a better future.
About Credit MongolCredit 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.
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