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Bayarsaikhan
Mr. Bayarsaikhan, 46 years old, lives with his son in Ulaanbaatar, the capital city of Mongolia. His wife works in Turkey as a home teacher and housekeeper and she transfers money to her family. He has been rendering transportation service to local people since 2009. His eldest son lives on his own separately from his parents. Last year, with his savings and his wife's sent money, he purchased a two-room old apartment. As his wife is coming to Mongolia this September, he wants to welcome her with a renovated comfortable home. So he is requesting a loan of 2,800,000 MNT to purchase vacuum insulated windows, hardwood flooring, wallpaper, fiberglass and foam. After renovation, his family will live in a comfortable and warm place where heat won't be lost easily through walls and windows. The borrower is a very hardworking individual who deeply cares for his family.

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
  • 1,557.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $1,800 helped Bayarsaikhan to purchase vacuum insulated windows, hardwood floors and fiberglass.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2013
Listed
Aug 29, 2013
Currency Exchange Loss:
Possible
Expired:
Sep 28, 2013