Recently Altantsetseg has begun making an extension to her house by adding one story. But due to lack of finances, she and her husband haven't finished building the second story. So she is requesting a loan of 7,000,000 MNT to purchase vacuum insulated windows, hardwood floors, shingles for roofing, and insulation materials.
As her son became a grown up man and is soon getting married is the main reason for making an extension, and it is also cheaper than building a new house. Moreover, the extension shall reduce overall heat loss and will provide extra protection against frosts and storms because the previous roof was so fragile.
After making the extension, the family will live in a comfortable and warm place where they will burn less coal for heating, releasing less pollutants into the air, and contributing to the efforts against air pollution.
The borrower is a very hardworking individual who wants to see her grandchild as soon as possible.
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 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!