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Otgonbayar is 37 years old, married, and has two children, who attend high school. They live in Ulaanbaatar, the capital of Mongolia. He has been selling used materials to local people since 2005. His wife is dressmaker at a sewing facility.

His house has deteriorated over the years and needs some serious repair so he is requesting a loan for 4,500,000 MNT, which he will use to purchase building and insulation materials such as bricks, cements, fiberglass, and foam. After the renovation, his family will live in a comfortable and warm place where they will burn less coal for heating and release 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
  • 16
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,567.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,875 helped Otgonbayar to purchase building and insulation materials.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 16, 2013
Aug 21, 2013
Currency Exchange Loss:
Sep 20, 2013