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Mr. Ankhbayar, 25 years old, lives with his wife, two children, and mother in Erdenet, the third largest city of Mongolia. He has been repairing and selling mobile phones for living since 2009. His wife recently began running small pawnshop. His mother has retired from work and gets a state pension. His mother looks after his two children at home. He wants to make an extension to his house as his children are getting bigger and bigger each passing day. He wants to create separate rooms for his children to study and sleep. So he is requesting a loan of 7,000,000 MNT to purchase building materials such as planks, metal, cement, and bricks. Using those materials, he will make the necessary extension to his house. Aside from providing additional space for the family, the extension also has environmental benefits as it will distribute heat loss and maintain heat longer. The family will begin to burn less coal for heating and contribute to the efforts against air pollution by releasing less pollutants. The borrower is very hardworking young person who values his family over anything.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,489.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $4,700 helped Ankhbayar to purchase building materials such as planks, metals, cements, and bricks.
Repayment Term
13 months (Additional Information)
Repayment Schedule
Jul 2, 2013
Aug 5, 2013
Currency Exchange Loss:
Sep 4, 2013