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Damdindorj
Mr. Damdindorj, 28 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land.

He has been transporting goods between provinces for two years. Last year he built a house on his land but couldn't move into the new house because of its vulnerable walls and floor. However, due to climate change, the Mongolian winter period is extended and he fears his family will be chilled down to their cores as next winter comes.

So, he is requesting a loan of 6,800,000 MNT to purchase building and insulation materials such as bricks, cements, fiberglass and foam. Using those materials, he can repair and make insulation for his house, thus providing more comfortable and warmer accommodation for his family members because a good quality house is advantageous in many ways compared to a Mongolian traditional ger which is mainly made of felts. More importantly, the renovated house will contribute to the efforts against air pollution because the family will burn less coal thus releasing less smoke into the atmosphere. 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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,402.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,850 helped Damdindorj to purchase building and insulation materials.
87% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 24, 2013
Listed
Apr 28, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014