The house the family lives in has deteriorated over the years and needs some serious repair and expansion. Because his siblings have all reached adult age and everyone has been creating their own family, the house needs more space to accommodate them all. Ariunbold is requesting a loan of 5000000 MNT to purchase building and insulation materials such as fiber glass, bricks, cements and planks for building an extension and repairing damaged components of the house, as well as installing a floor heating system into the house. As a result, this extended family can live in a comfortable and warm place. More importantly, the renovated house will enable the family to burn less coal thus contributing to the efforts against air pollution. The borrower is a very hardworking individual who deeply cares for his aged parents.
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 MongolCredit 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.
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This loan has been fully funded!