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Orgoi
Mr. Orgoi is a 63-year-old man who lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. He has been extracting and selling spar for eleven years. His wife is an inspector who checks apartment heating and sanitation. His daughter goes to high school. The house they live in has been deteriorating over the years and is in need of serious repair.

For this reason, he is requesting a loan of 3,800,000 MNT to purchase building and insulation materials, such as bricks, cement, fiberglass and foam. Using these materials, he can repair and insulate his old house in order to make it a more comfortable and warm. The renovated house will enable the family to burn less coal and release less pollution.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,446.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,650 helped Orgoi to purchase building and insulation materials.
89% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 21, 2013
Listed
Jul 19, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015