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Tumennast
Mr. Tumennast, 69 years old, lives with his wife in an old house in Ulaanbaatar, the capital city of Mongolia. He and his wife both have retired from work and get a state pension.

Even though he had retired, he can't sit idle, so he decided to render a taxi service to local people using his car. He has been driving his car around the city for almost five years.

He is requesting a loan of 4,300,000 MNT to purchase building materials such as wallpapers, fiberglass, bricks and foam in order to renovate his old house in preparation for the coming winter. As a result, he and his wife will live in a comfortable and warm place without worrying about getting cold. Also they 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
  • $15,398,050
    Funds lent in using Kiva
  • 1,630.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $2,650 helped Tumennast to purchase building materials.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Oct 6, 2013
Currency Exchange Loss:
Possible
Expired:
Nov 5, 2013