Mr. Lkhagva-Ochir, is 69-years-old and lives with his wife in Ulaanbaatar, the capital city of Mongolia. Together with his children, he owns a three-flat apartment and rents two of the flats to business organizations.
Over the years, the apartment walls, roof and windows have deteriorated and the apartment no longer keeps the heat well.
Mr. Lkhagva-Ochir is requesting a loan of 2,500,000 MNT to purchase building and insulation materials such as bricks, cement, fiberglass, shingles and foam. With these materials, Mr. Lkhagva-Ochir, together with his children, can repair and insulate their old apartment.
All the income generated by the family comes from rental fees paid by the two business organizations. The renovation will make the working environment better and preserve energy more efficiently.
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.