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Magsarjav
Mr. Magsarjav, 37 years old, lives with his wife and three children in Erdenet, the third largest city of Mongolia. He has been working as truck driver in a mining company for twelve years. His wife is a book-keeper and recently employed. Their elder son is an eleventh-grade student at high-school and his second son also goes to high-school. Their daughter just began her studies at elementary school.

He is requesting a loan of 4,600,000 MNT to buy building materials such as fiberglass, wallpaper, vacuum insulated windows and foam. Using those materials, he wants to insulate and repair the interior parts of the house as he already renovated the outer parts using his savings. After renovation, his house will no longer lose its heat through its walls and windows and then his family will live in a comfortable and warm place without worrying about the incoming winter. Also they will burn less coal for heating thus releasing less pollutants into the air; a significant contribution to the efforts against air pollution.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,689.2
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $2,725 helped Magsarjav to buy building materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 12, 2013
Listed
Sep 15, 2013
Currency Exchange Loss:
Possible
Expired:
Oct 15, 2013