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Erdenechimeg
Erdenechimeg is 43 years old and lives with her mother in Kherlen, the easternmost province of Mongolia. She has been teaching meditation to local people for four years. Her mother has retired from work and gets a state pension. The house they live in has deteriorated over the years and it needs some renovation. So she is requesting a loan of 5000000 MNT to purchase building and insulation materials such as bricks, planks, cement, fiberglass and foam. Using those materials, she will be able to renovate her old house. As winter comes near, it is necessary for her to renovate her house. Also, a renovated house will enable the family to burn less coal for heating thus releasing fewer 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,602.6
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $3,125 helped Erdenechimeg to purchase building and insulation materials.
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Oct 2, 2013
Currency Exchange Loss:
Possible
Expired:
Nov 1, 2013