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Munkh-Erdene
Mr. Munkh-Erdene, 36 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has been rendering taxi service to local people since 2011 and has accumulated a vast amount of experience in picking up customers, shortening routes and delivering quickly. The house they live in has deteriorated over the years and needs some serious repair. So he is applying for a loan of 3,000,000 MNT to buy building and insulation materials such as bricks, cement, planks, fiberglass and foam. Using those materials, he can repair and insulate his house. The renovated house will enable the family to burn less coal, emit less smoke and thus contribute to the efforts to combat air pollution. The borrower is a very hard-working 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 purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,353,325
    Funds lent in using Kiva
  • 1,417.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,125 helped Munkh-Erdene to buy building and insulation materials to repair and insulate his house.
85% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 24, 2013
Listed
May 2, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2015