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Odmaa
Mrs. Odmaa, 37 years old, lives with her husband and children in Ulaanbaatar, the capital city of Mongolia. The family resides in an old house on a plot of land. She has been running a grocery store since 2003. Her husband renders taxi service to local people.

They moved to their house 10 years ago and since that time, never made any renovations to their house. So, she is requesting a loan of 7,000,000 MNT (Mongolian tugriks) to purchase vacuum-insulated windows, hardwood floors, fiberglass and cement. Using those materials, her husband will make renovations to the old house, thus creating a comfortable and warm place. In this energy-preserving house, heat loss will be minimal, and the family will burn less coal for heating, thus releasing less pollutants 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 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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,685.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,175 helped Odmaa to purchase building materials for renovating the old house.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 15, 2013
Listed
Sep 18, 2013
Currency Exchange Loss:
Possible