The house in which Munkhbaatar lives, together with his son's family, has a deteriorated roof and windows. This makes the living space vulnerable to frosts and storms. With winter coming closer, Munkhbaatar is requesting a loan of 2,500,000 MNT, which he will use to purchase shingles, vacuum-insulated windows, and fiberglass insulation. Using those materials, he can renovate the house and make a comfortable and warm place for his grandchildren. More importantly, the renovated house will enable the family to burn less coal for heating, so it will release less pollution into the air. The renovation of the house will contribute to Mongolia's efforts against air pollution. The borrower is a very hardworking individual, who raised three children on his own with his hard work.
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 MongolCredit 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.
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Success!! The loan was 100% repaid