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Naranchimeg
Naranchimeg is 43 years old and lives with her husband and children in Ulaanbaatar, the capital city of Mongolia. Her children go to high school. She and her husband have been selling water containers to the local people since 2000. This business is the only income source on which the whole family depends.

The house Naranchimeg and her family live in has been deteriorated over the years so she is requesting a loan of 8,000,000 MNT to buy building and insulation materials such as bricks, cements, fiberglass and foam in order to make renovations to her house. As a result, the family will live in a comfortable and warm place where less coal is burned and less smoke is released into air. The burning of coal is considered to be the main source of air pollution in Mongolia according to state research.

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
  • $15,397,050
    Funds lent in using Kiva
  • 1,619.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $4,950 helped Naranchimeg renovate her house.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2013
Listed
Oct 7, 2013
Currency Exchange Loss:
Possible
Expired:
Nov 6, 2013