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Och-Erdene
Mr. Och-Erdene, who is 31 years old, lives with his wife and children in Ulaanbaatar, capital city of Mongolia. He has been transporting goods between cities since 2005 and accumulated a vast amount of experience. His wife is currently unemployed and stays at home, taking care of domestic work.

The house his family lives in has deteriorated, so he is requesting a loan of MNT 3,500,000 to buy building materials, such as bricks, cement, fiberglass, and foam, in order to renovate his old house.

After renovation, his family will live in a comfortable and warm place where less coal is burned and thus less pollutants are released 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,341,800
    Funds lent in using Kiva
  • 1,669.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,100 helped Och-Erdene to buy building materials.
77% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2013
Listed
Oct 18, 2013
Currency Exchange Loss:
Possible