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Otgon
Mrs. Otgon, 58 years old, lives with her husband and children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. She has been teaching history to students in high school, and this year was promoted to manager of education. Her husband works as a bus driver for a living.

She is requesting a loan of 7,000,000 MNT to purchase a low pressure heater and insulation materials such as fiberglass and foam. As a result, she and her husband can insulate their house and install a low pressure heater into the house. By doing so, the family will use less coal for heating, thus contributing to the efforts against air pollution by releasing fewer pollutants into the air. Otgon 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
  • 1,557.6
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,500 helped Otgon to purchase insulation materials and a low pressure heater.
51% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2013
Listed
Aug 22, 2013
Currency Exchange Loss:
Possible