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Lkhagvajav
Mr. Lkhagvajav, 40 years old, lives with his parents in Ulaanbaatar, capital city of Mongolia. He, together with a few of his friends, has recently began running a taxi service company. He has a position of internal auditor at a taxi company. His parents both have retired from work and now get a state pension. Currently he is building a brick house on his land to prepare for his upcoming marriage. The roofing and installing windows and door as well as interior decoration remain due to lack of finances.

According to his own calculations, building a new house on his old home's foundation has several advantages: in winter time, the old house was losing all its heat through walls and windows and more space will be needed in the near future as he gets married and becomes a father. So he is requesting a loan of 5,000,000 MNT to purchase vacuum insulated windows, hardwood floors, fiberglass, shingles and foam for house building. The high quality new house will reduce the family's coal consumption greatly as Mongolians usually use coal for heating. Burning less coal will contribute to the efforts against air pollution as it will release less pollutant into the atmosphere.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,446.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $3,475 helped Lkhagvajav to purchase building and insulation materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 27, 2013
Listed
Jul 19, 2013
Currency Exchange Loss:
Possible
Expired:
Aug 18, 2013