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Mr. Gantugs is 32 years old – one of the hardworking guys. He operates a taxi business around the districts of Ulaanbaatar, the capital city of Mongolia. Since 2006, he has been running his business nonstop. He lives with his two daughters and his wife in an old house in the ger district – an area of the city with no running water, minimal roads and spotty electricity. In the winter, his house becomes very cold inside and his daughters always get sick due to feeling cold at home. His house loses too much heat through its old floor. So, Mr. Gantugs decided to get a new wooden floor for his house. He really hopes that his house will be warmer and more comfortable after this. The loan he is requesting will be used to cover the cost of the new wooden floor for his house.

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
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Gantugs to cover the cost of a new wooden floor for his house.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Aug 31, 2012
Currency Exchange Loss:
Jan 17, 2014