During winter time the family are chilled to the core due to living in an old deteriorated Mongolian traditional 'ger'. So this year, they began building their own house but couldn't finish it due to lack of finances. So Otgonchimeg is requesting a loan of 6,000,000 MNT to purchase building materials such as planks, bricks, cement and metal shakes. If she can complete her house, their children can live in a comfortable and warm place. The high quality house will enable the family to burn less coal, releasing less carbon dioxide and thus contributing to the efforts against air pollution. Living in a house is way better than living in a 'ger' in terms of both warmth and comfort. The borrower is a very hardworking individual who doesn't want her husband and sons to be chilled to the core in harsh wintertime.
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 MongolCredit 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.
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This loan has been fully funded!