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Otgongerel
Mrs. Otgongerel, 41 years old, lives with her husband in Darkhan, the second largest city of Mongolia. The family resides in an old house on a plot of land. She has been running a grocery store for nine years. Her husband also helps her to run grocery store and in other times, he drives around the city to render taxi services to local people.

The house they live in has deteriorated over the years, so she is requesting a loan of 7,000,000 MNT (Mongolian tugriks) to purchase building and insulation materials such as bricks, cements, planks, fiberglass and foam to renovate her house. As a result, she and her husband can live in a comfortable and warm place. More importantly, they will reduce their coal consumption and release less pollutants into the air, which will contribute to the efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,487.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,725 helped Otgongerel to purchase building and insulation materials to renovate her deteriorated house.
88% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 4, 2013
Listed
Aug 7, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2015