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Khurelbaatar
Mr. Khurelbaatar, 49 years old, lives with his wife, son and daughter in law in Kherlen, easternmost town of Mongolia. He has been rendering transportation service to local people since 2011. His son is a policeman and works at the town police department. This summer, he demolished his former house as the house no longer provided his family with appropriate protection. Immediately he began building new house on his former house's foundation. But due to lack of finance, up until now he didn't complete building work and his family is currently residing in a Mongolian traditional ger which lacks necessary protection against snow and storms. So he is requesting a loan of 2000000 MNT to purchase building materials such as bricks, cement and planks. Using those materials, he will be able to build his new house before winter. The house will enable the family to burn less coal for heating and release 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 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,667.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,200 helped Khurelbaatar to purchase building materials.
73% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 28, 2013
Currency Exchange Loss:
Possible