Amarsanaa has been operating a public transportation service business since 2000, with special help from his spouse, Gantsetseg. When they first began their business, they bought a minivan which was produced in 1995. After nine years, in 2009, he changed the old van for a new one which was produced in 2001.
The current house in which the family lives became so old, it requires some renovation work. Amarsanaa is requesting a 4,000,000 Mongolian Tugriks (MNT) loan to purchase necessary construction materials, now that they are very cheap.
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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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Success!! The loan was 100% repaid