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Ravdanbat
Mr. Ravdanbat, 31 years old, lives with his wife and three children in Ulaanbaatar, capital city of Mongolia. The family resides in their own house on a fenced in land. He and his wife have been doing building decoration work through contracts with building companies since 2003. His three children all go to high school. He is requesting a loan of 6,800,000 MNT to cover the costs of purchasing building materials such as bricks, cement and metals as well as installing a heating system. During this period of time, the prices of building materials have reached their lowest rate and purchasing them now will save him a lot of money. More importantly, installing a heating system into the house will enable the family to live in a comfortable and warm place. As a direct consequence of a warm house the family will burn less coal thus contributing to the efforts against air pollution by emitting less smoke. The borrower is very hardworking individual who 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,345,375
    Funds lent in using Kiva
  • 1,396.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,875 helped Ravdanbat to install a heating system into house.
86% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 18, 2013
Listed
Mar 21, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2015