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Bayanmunkh is 39 years old and lives with his wife and four children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Bayanmunkh has been providing transportation services to local people for ten years and he usually picks up his customers at an outdoor market. His wife makes and sells traditional Mongolian clothes to vendors at wholesale prices. Before this work, his wife was working as a saleswoman at a private business. Bayanmunkh's eldest daughter is an eleventh-grade student in high school.

The house the family lives in has deteriorated over the years and needs some serious repairs, such as replacing the roof, windows, and floors. So Bayanmunkh is requesting a loan of 5,000,000 MNT to purchase building and insulation materials such as bricks, cement, planks, fiberglass, and foam. Using these materials, he can repair and insulate his house, providing a warmer and more comfortable home for his family. The importance of renovating the house is that it will enable the family to burn less coal, release less carbon dioxide, and contribute to the efforts to reduce air pollution. Bayanmunkh 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 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
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,428.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,525 helped Bayanmunkh to purchase building and insulation materials.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
May 3, 2013
May 9, 2013
Currency Exchange Loss:
Dec 17, 2014