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Bud
Mr. Bud, 26 years old, lives with his wife in Kherlen, the easternmost city of Mongolia. The family has recently purchased a house and a plot of land. He has been working as an assistant at a building company since 2012. His wife is currently unemployed and stays at home. The house they purchased was built ten years ago, and over the years it has severely deteriorated.

So, he is requesting a loan of 3,000,000 MNT to purchase building and insulation materials such as bricks, cement, planks, shingles, fiberglass and foam. Using those materials, he can repair and insulate his house, improving it to its original state with a better appearance. The renovated house will enable the family to burn less coal, emit less smoke and so 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
  • 1,430.5
    Mongolia Tugriks (MNT) = $1 USD