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Mr. Lkhagvasuren, 60 years old, lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on plot of land. His wife has a position as a book-keeper at a business entity. His elder daughter works as a distributor at an organization which administers the water supply; she is now on maternity leave. His younger daughter works as a bar-keeper in a private business entity. He himself is retired from work and gets a state pension. In retirement, he began transporting his daughter's children to their school and kindergarten.

In the near future, he wants to build his own house on his land. So he is requesting a loan of 3,000,000 MNT to purchase fiber glass, cement and bricks. During this period of the year, the price of building materials reaches its lowest rate and it will save him quite a lot of money. Using his savings, he has already purchased foam substances and other materials. As spring approaches, he will begin construction work on his house.

The borrower is a very hardworking individual who strives for a better future for the sake of his children. Building a high-quality house has several advantages, namely it will reduce the usage of coal thus contributing to the efforts against air pollution and will provide better living conditions for the family etc.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Lkhagvasuren to purchase cement, bricks and fiberglass.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 19, 2013
Feb 21, 2013
Currency Exchange Loss:
Oct 17, 2014