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Terguunbayar
Terguunbayar, 35, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (a portable felt dwelling) on a plot of land. Just one year ago, she began providing taxi services to local people using her own automobile on work days. On the weekends, she and her husband make and sell jackets to vendors in various districts at wholesale prices. Last year they began building a house on their land because the Mongolian winter is very harsh, forcing them to burn lot of coal to heat the ger so they don't freeze. But due to lack of finances, they haven't finished their house completely and some necessary items are remaining. She is requesting a loan of 1,500,000 MNT to purchase vacuum insulated windows, metal shakes used for roofing and cement. As you can see from the picture, her house needs roofing and windows. After using these materials, she and her husband can complete their house and provide warm and comfortable accommodation for their children. More importantly, this new high quality house won't lose its heat and will enable the family to reduce its coal consumption, thus contributing to efforts against air pollution by releasing less smoke to air. The borrower is a very hardworking individual who greatly cares for her children.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,428.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,075 helped Terguunbayar to purchase vacuum insulated windows, metal shakes and cement.
92% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 3, 2013
Listed
May 9, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014