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Mr. Ganbaatar, 53 years old, lives with his wife, three sons, daughter-in-law and two grandchildren, in Ulaanbaatar, the capital city of Mongolia. This extended family resides in their own house on a plot of land. He has been rendering taxi service to local people, by renting an automobile from a private business entity for one year. His wife sells clothes, renting a stall at the trade center. His elder son has a position as a welder at a construction company, and his second son plays music at the State philharmonic hall. His daughter-in-law stays at home, looking after her children.

The house they live in has deteriorated over the years, and needs some serious repair. So, Ganbaatar is requesting a loan of 5,000,000 MNT. He will use it to purchase building and insulation materials, such as planks, bricks, cement, fiberglass and foam. Using these materials, he can make an extension, and repair and insulate his house, thus providing more comfortable and warmer accommodations for his family. The renovated house will enable the family to burn less coal, emit less smoke, and thereby contribute to the efforts against air pollution. The borrower 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 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,423.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,525 helped Ganbaatar to purchase building and insulation materials.
73% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 13, 2013
May 18, 2013
Currency Exchange Loss: