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Altantsetseg
Mrs. Altantsetseg, 43 years old, lives with her husband and son in Ulaanbaatar, the capital city of Mongolia. The family resides in a brick house on a plot of land. She has been doing house interior decoration for almost ten years, and usually works on contract with building entities. Her husband has a profession of field engineer and currently works at a mining company. Her son is enlisted in the military service.

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.

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.

About Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,399,550
    Funds lent in using Kiva
  • 1,447.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,850 helped Altantsetseg to purchase vacuum windows, hardwood floors, shingles, and insulation materials.
86% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2013
Listed
Jul 12, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 21, 2015