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Mr. Byambadorj is 25 years old and lives with his wife in an old house which is in need of repair. He works as a vendor in a local store, and is requesting a loan to repair his home, which is located in the ger (or traditional Mongolian yurt) district of Ulaanbaatar, the capital of Mongolia. He will use his loan to buy the materials he needs to replace his home's heater, old wooden floor and windows, and install insulation to reduce heat loss. In the winter, he uses a water-heated furnace to stay warm, and it costs too much and wastes a lot of water. By replacing it, he will lower his bills and improve the environment.

Although Mongolia has the lowest population density in the world, it is one of the globe's most polluted countries. This is due to the long, cold winters where temperatures frequently go below -40C (-40F) even in the cities, and it frequently snows. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from people just trying to stay warm. Extremely toxic smoke from cars is another cause of air pollution. In response to this, Credit Mongol offers Green Loans to its clients to make home improvements that reduce heat loss, improve heating systems and run cars on the natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and on Mongolians' health.

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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,328.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $3,025 helped Byambadorj to buy materials to improve his home.
Repayment Term
50 months (Additional Information)
Repayment Schedule
Jul 5, 2012
Jul 10, 2012
Currency Exchange Loss:
Aug 9, 2012