She has been purchasing and selling furniture to local people at a trade center for two years. First she posts advertisements about purchasing old furniture and after people call her, she visits their home and values their furniture and purchases it. Later she sells the old furniture at a higher price along with new furniture imported from China. Before the furniture business, she sold automobile spare parts.
The house they live in has been renovated recently but curb roof repair and interior decorations remain to be completed, so she is requesting a loan of 4000000 MNT to purchase building materials such as gypsum, paints, and wallpapers. Using those materials, she can finish her house renovation completely. The renovated house will certainly improve their living conditions greatly. The borrower is a very hardworking individual who strives for a better future.
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!