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Altansukh
Altansukh, 30 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family currently resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. Altansukh has been working as a welder at a power station since 2012. His wife is a janitor and works in a private firm. This summer, they began building a house on their land but due to lack of financing, they didn't manage to finish the building work. So Altansukh is now requesting a loan of 5,000,000 MNT to buy building and insulation materials such as bricks, cement, fiberglass and foam, in order to complete his house. The house is much better than the Mongolian traditional ger. Also, in a high quality well-insulated house, they will burn less coal for heating thus releasing less pollutants into air.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,632.5
    Mongolia Tugriks (MNT) = $1 USD
Expired
A loan of $3,075 helped Altansukh to buy building and insulation materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 4, 2013
Listed
Oct 10, 2013
Currency Exchange Loss:
Possible
Expired:
Nov 9, 2013