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Mr. Munkhbukh, 40 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. His daughter is eleventh grade at high school and this year took a university entrance exam. His son goes to high school and is only in fifth grade.

Munkhbukh, together with his wife began a raw materials sales business in 2005. They purchase bottles of alcohol, beer and juice, damaged bricks and other materials from people who collect them for a living. Later they sell them at higher price after making some adjustments such as repairing bricks or cleaning bottles.

The house they live in has deteriorated over the years and it needs some renovation. So Munkhbukh is requesting a loan of 7000000 MNT to purchase building and insulation materials such as bricks, cements, fiberglass and foam. By doing so, his family will live in a comfortable and warm place without worrying about the coming winter. The renovated house will enable the family to burn less coal for heating thus releasing less pollutants into the atmosphere.

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
  • 1,567.4
    Mongolia Tugriks (MNT) = $1 USD
A loan of $4,475 helped Munkhbukh to purchase building and insulation materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 16, 2013
Aug 20, 2013
Currency Exchange Loss:
Sep 19, 2013