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Bayarsaikhan
Bayarsaikhan is 50 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. The family resides in an old house on a plot of land. He heads the department of supply at the military base. His wife sews clothes on her own and her daughter studies at university. The house they live in has deteriorated over the years and needs some repair. So, Bayarsaikhan is requesting a loan of 2,500,000 MNT to buy vacuum-insulated windows, hardwood floors and fiberglass. After renovation, his family will live in a comfortable and warm place where less coal is burned so fewer pollutants are released into air. The borrower is a very hard-working individual who strives for better future.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,683.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,500 helped Bayarsaikhan to buy vacuum-insulated windows, hardwood floors and fiberglass.
98% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 26, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2015