Mrs. Odbaatar lives with her two sons and her husband in a small, old house in the ger district of Mongolian, which is comprised of traditional nomadic yurts, in Ulaanbaatar, the capital of Mongolia. Her husband works as a watchman and doesn't earn enough to pay for the family's necessities. Her house was built in the early 1990’s and is not a spacious place to live. In addition to this, Mrs. Odbaatar's house becomes cold and loses heat through the walls in the winter.
So Mrs. Odbaatar decided to make insulation for the walls and create an extension by adding one more room to her old house. As she said, "My house will be warm and comfortable after the renovation." She is asking for a loan for the purposes of making wall insulation and the house extension.
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 MongolCredit 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.
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Success!! The loan was 100% repaid