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Munkhbayar
Mr. Munkhbayar, 26 years old, lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. The family has inherited a house and plot of land from Munkhbayar’s father. The house has deteriorated over the years and needs some serious repair.

Munkhbayar has been running a men’s clothing sales business by renting a stall at the trade center since 2006. His stall is better located than the rest of the stalls, and it gave him an edge to attract more permanent customers.

Munkhbayar is requesting a loan of 6,750,000 MNT to purchase construction materials such as planks, cement, bricks and metals. These construction materials will be used for house renovation. As a result, the family can live in a comfortable and warm place. Also, buying materials now will spare a large amount of cash because during this period of the year, the price of construction materials reaches its lowest level.

Most importantly, the renovated house will enable the family to burn less coal, thus contributing to the efforts against air pollution. Munkhbayar is a very hardworking individual who strives for a better future for the sake of his family.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,875 helped Munkhbayar to purchase construction materials such as bricks, planks and cement.
86% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 25, 2013
Listed
Feb 7, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2015