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Darim
Mrs. Darim is 62 years old and lives with her three daughters in Ulaanbaatar, capital city of Mongolia. The family resides in their own house on a plot of land.

She has been running a grocery store for three years and has accumulated a vast amount of experience. Her grocery store is located in a central city area and over the years, she has secured permanent customers.

Now, she is requesting a loan of 7,000,000 MNT to purchase building and insulation materials, such as bricks, cement, fiberglass and foam, as well as to pay for house renovators. As a result, she and her daughters will live in a comfortable and warm place.

More importantly, due to the renovated house, the family will reduce their coal consumption; thus releasing less pollutants into the atmosphere, which contributes to the clean air efforts.

The borrower is a very hard-working 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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 15
    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 Darim to purchase building and insulation materials.
64% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 11, 2013
Listed
Jun 18, 2013
Currency Exchange Loss:
Possible