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Bolor-Erdene
Bolor-erdene, 28 years old, lives with his wife and daughter in a traditional Mongolian four-walled ger (portable felt dwelling) on fenced land in Ulaanbaatar, the capital city of Mongolia. He has been rendering taxi service to local people for seven years and during that time he has accumulated a vast amount experience in shortening routes and driving fast. His wife has a disability due to a factory accident and gets a disability pension. Their daughter is three years old and stays at home. He is requesting a loan of 2,600,000 MNT to purchase a traditional Mongolian five-walled ger. The five-walled ger is more comfortable and easier to keep warm than a four-walled ger. Last year, the family were chilled down to their cores as their old ger wasn't enough to protect them from frosts and snow storms. Once they move into their new five-walled ger, they will begin to burn less coal for heating, which is good for environment as less pollutants will be released 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 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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,650.4
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,600 helped Bolor-Erdene to buy a traditional Mongolian five-walled ger (portable felt dwelling).
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 8, 2013
Listed
Sep 10, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014