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Tungalag
Mrs. Tungalag is 55 years old and lives with her husband, daughter, and granddaughter in Ulaanbaatar, the capital city of Mongolia. She and her husband have been running a security service, providing services to local companies since 2007. They have secured permanent clients and accumulated vast amounts of experience. Her daughter is an operational manager at a commercial bank and her granddaughter goes to kindergarten.

She is requesting a loan of 7,000,000 MNT to purchase vegetable seeds, fertilizers, and building materials (such as planks, metals and bricks). Using these building materials, her husband will build a greenhouse near their home. After that, she will plant tomato, carrot, and cabbage seeds. Growing vegetables instead of buying directly from markets will help the family save money and ensure food safety. More importantly, plants will undertake photosynthesis, which converts carbon dioxide into oxygen, and will contribute to clean air efforts. 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 Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,420.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,950 helped Tungalag to purchase seeds, fertilizers and building materials.
59% repaid
Repayment Term
30 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2013
Listed
Jun 16, 2013
Currency Exchange Loss:
Possible