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Mr. Bazarragchaa, 41, is an army man. He lives with his wife and son in an old house which is located in the ger district of Ulaanbaatar, the capital city of Mongolia, an area of city with no running water, minimal roads, and spotty electricity. His son is going to marry in the near future and he wanted to build a small house beside his current one as a wedding gift. Building work has started recently and he is planning to install a low pressure furnace to the new house for his son. As he believes, it will cut the coal usage completely and will be a natural oriented idea. The loan he is taking will be used to buy a low pressure furnace for the 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
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $3,625 helped Bazarragchaa to buy a low pressure furnace for his son's house.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 5, 2012
Sep 20, 2012
Currency Exchange Loss:
Oct 20, 2012