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Munkhtsetseg
Mrs. Munkhtsetseg, 27 years old, lives with her husband, son and parents in Ulaanbaatar, the capital city of Mongolia. They all live in a small wooden house on a plot of land. She has been working as a cashier at a supermarket for two years.

Recently, she and her husband began building a house next to their old house. But due to lack of finances, she can't afford to buy the necessary building materials such as bricks, cement, shingles, windows, doors and hardwood floors. If she finishes building her house before winter, her parents and her family can live in a comfortable and warm place respectively. Because all of them live in a small house, they are required to burn lots of coal for heating and release pollutants greatly, which has an adverse effect on the environment. Living in separate houses will create a comfortable and warm place. The borrower 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 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,565.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,575 helped Munkhtsetseg to purchase building materials.
68% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2013
Listed
Aug 26, 2013
Currency Exchange Loss:
Possible