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Onon
Mr. Onon, 60 years old, lives with his wife and son in Ulaanbaatar, capital city of Mongolia. His other three children all got married and live separately from their parents. He has been working as a repairman at a hospital for more than eleven years and accumulated a vast amount of experience in fixing pipes. His wife has retired from work and gets a state pension.

The house they live in has deteriorated over the years and it needs some serious repair. So he is requesting a loan of 3,000,000 MNT to purchase building and insulation materials such as bricks, cement, fiberglass and foam. Using those materials, he and his son can repair and insulate their old house making it far more comfortable and a warm place. The renovated house will enable the family to burn less coal, release fewer pollutants and contribute to the efforts against air pollution. The borrower is very hardworking individual who believes hard work always pays back.

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.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,446.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,075 helped Onon to purchase building and insulation materials.
69% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 19, 2013
Currency Exchange Loss:
Possible