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Otgontsetseg
Mrs. Otgontsetseg, 49 years old, lives with her husband and two children in Darkhan, the second largest city of Mongolia. The family resides in their own house on a plot of land. She and her husband are milliners and since 2005 they have been manufacturing and selling hats to local people. They make various types of hats such as sable hat, hats for artists and fur caps.

The external parts of house the family lives in has been deteriorating over the years and needs some repair. Also, in order to grow vegetables on their fenced land, she wants to dig a well. So she is requesting a loan of 2,500,000 MNT to purchase building materials such as bricks and cements to repair the house and pay for well-digging.

As a result, the house won't lose heat through its outer walls and windows; also the family will burn less coal, emit less smoke and contribute to cleaner air. More importantly, digging the well and growing vegetables will contribute to the efforts against air pollution greatly. The borrower is a 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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,400.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Otgontsetseg to purchase building materials and pay for well-digging and to grow vegetables.
85% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 5, 2013
Listed
Apr 9, 2013
Currency Exchange Loss:
Possible
Ended:
May 18, 2015