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Myagmarsuren
Myagmarsuren, 44 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. His wife has been working as a service manager at restaurant since 2010. His elder daughter, 19 years old, studies at university and his younger daughter, 11 years old, is a fourth grade student. Myagmarsuren has been providing taxi service to local people and has accumulated a vast amount of experience such as where to pick up his customers and what roads are shorter to drive.

Myagmarsuren is requesting a loan of 6,500,000 MNT to purchase building materials including to pebbles, cement, a door, vacuum insulated windows, and hardwood floors. These building materials will be used for completing his summer house. The main advantage of completing this house is that it will enable the family to live in a place with clean air, as well as improve his family’s living standard. In Ulaanbaatar, air pollution levels are above the standard and this house is far away from the city and will provide his family with necessary clean air. Myagmarsuren is a very hardworking individual who deeply cares for his family’s well-being.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,675 helped Myagmarsuren to purchase building materials such as cement, vacuum insulated windows, and hardwood floors.
45% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 12, 2013
Listed
Mar 14, 2013
Currency Exchange Loss:
Possible