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Ganbaatar
Mr. Ganbaatar is 56 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has been rendering taxi services to local people using his own automobile for thirteen consecutive years and has accumulated a vast amount of experience. His wife began selling food items in 2008 and has earned many permanent customers. His eldest daughter is pregnant and currently living with her parents because his daughter's house is deteriorated over the years and his son-in-law is currently repairing the house. But due to lack of finances, the house repair and insulation is not completed. So he is requesting a loan of 2,000,000 MNT to purchase building and insulation materials such as bricks, planks, cements, fiberglass and foam. Using these materials, he and his son-in-law can complete the house renovations, thus preparing a comfortable and warm place for his daughter and grandchild. The renovated house won't lose its heat and more importantly it will enable the family to burn less coal, emit less smoke and thus contribute to the efforts against air pollution. The borrower is a very hardworking individual who cares greatly for his wife and two daughters.

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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,423.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,425 helped Ganbaatar to purchase building and insulation materials to complete the renovation of his daughter's home.
91% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 6, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014