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Tumennasan
Mrs. Tumennasan is 34 years old and lives with her husband and four children in Erdenet, the third largest city in Mongolia. Tumennasan has been running an auto repair shop for ten months and her husband works at a cement factory. The house her family lives in has deteriorated over the years and it needs some repair. Therefore, Tumennasan is requesting a loan of 2,500,000 MNT to buy bricks in order to renovate her house. By encasing her house with bricks, it will protect the house from the cold and storms. The renovated house will enable the family to burn less coal for heating and release less smoke into air, thus contributing to the efforts against air pollution.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,808.3
    Mongolia Tugriks (MNT) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,400 helped Tumennasan to renovate her house.
64% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 22, 2014
Listed
Jun 3, 2014
Currency Exchange Loss:
Possible