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Melsbek
Melsbek, 35 years old, lives with his wife and two daughters in Erdenet, the third largest city of Mongolia. His family has recently purchased an old apartment. His elder daughter studies at high school while the younger one goes to kindergarten. He has been rendering taxi service to local people since 2001 and accumulated a vast amount of experience in picking up customers and driving them quickly to their destination. His wife has been working as a crane machinist for twelve years at a copper enrichment facility. He is requesting a loan of 6,000,000 MNT to purchase hardwood floors, vacuum insulated windows, wallpaper, paint, fiberglass and foam in order to renovate his old apartment. By doing so his family will live in a comfortable and warm place where energy is preserved efficiently.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,567.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $3,850 helped Melsbek to purchase vacuum insulated windows, hardwood floors and fiberglass.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2013
Listed
Aug 21, 2013
Currency Exchange Loss:
Possible
Expired:
Sep 20, 2013