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Bayanmunkh
Mr. Bayanmunkh is 40 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. He has been rendering a taxi service to local people using his own automobile for five years. Besides the taxi service, he has been selling mobile accessories at the trade center. He is the only one who generates income for the family. His wife is unemployed and stays at home. His daughter goes to high school. He is requesting a loan of 4,000,000 MNT to purchase building and insulation materials such as bricks, planks, fiberglass, and foam. Using those materials, he can repair and insulate his house making his home a better place for living. More importantly, the renovated house will enable the family to burn less coal, release less pollutants, and 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 purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,448.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,775 helped Bayanmunkh to purchase building and insulation materials to renovate his home.
87% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 11, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2015