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Sergelenkhuu
Mr. Sergelenkhuu, 34 years old, lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. His wife works at a hotel as a cleaner and receptionist. His elder daughter studies at a high school. His other two children, who are 2 and 7 years old respectively, both go to kindergarten.

Sergelenkhuu has been working as a field engineer for a private business for six years. The house the family lives in has been deteriorating over the years and needs some serious repair. In winter time, due to the house's vulnerable walls and ceilings, the family lives in very cold conditions, especially when they are short on coal.

In order to provide his family with a comfortable and warm living environment, Sergelenkhuu has decided to renovate his house. So he is requesting a loan of 4,500,000 MNT to purchase building and insulation materials, including but not limited to fiberglass, hardwood floors, glue and wallpaper. During this time of year, the price of building materials reaches its lowest rate so it is a good time to buy these materials.

After the repairs have been made, the family will be able to live with joy and happiness due to having a warm house. This also will enable the family to burn less coal, thereby reducing air pollution. (In Mongolia, air pollution is mainly caused by the burning of coal.) The borrower is a very hardworking individual who deeply cares about the well-being of his family and strives for a better 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
  • 1,400.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,225 helped Sergelenkhuu to purchase insulation and building materials.
81% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2013
Listed
Mar 4, 2013
Currency Exchange Loss:
Possible