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Mendbayar
Mr. Mendbayar, 47 years old, lives with his wife and son in a house on a plot of land in Ulaanbaatar, the capital city of Mongolia. He has been working as an electrician at a power station for the last two years. His wife makes clothes using her sewing machine at home on orders from retailers who later sell finished clothes to people at the market. Their son studies at the university.

Mendbayar is requesting a loan of 6,000,000 MNT to purchase building and insulation materials such as bricks, cement, fiberglass, and foam to renovate his house. After the renovation, his family will live in a comfortable and warm place where they will burn less coal for heating, thus releasing less pollutants into the atmosphere, which has a positive impact on the environment.

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 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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,597.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $3,775 helped Mendbayar to purchase building and insulation materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2013
Listed
Sep 4, 2013
Currency Exchange Loss:
Possible
Expired:
Oct 4, 2013