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Ganbold is 47 years old, and he has been working in the power plant for 24 years nonstop. He lives with his wife and all of his children, after moving out from their parent’s house. He owns an old small house in the ger district, made up of Mongolian traditional yurts and bad houses, in the boundary district of Ulaanbaatar, the capital city of Mongolia.

His house has not been any repair since they moved in. In winter, his family feels very cold and always does because of the cold and smoke. Mostly he uses coal stoves to just stay warm at home in the wintertime. He knows that using the coal fuel is harmful to the health of his family and environment.

So that he decided to repair his house to reduce the coal usage for the heating. At first he is planning to insulate the walls and renovate the windows for cutting the heat loss. As his calculation, it will cost about MNT 2,500,000 to buy the building materials to repair his bad house.

Additional Information

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
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Ganbold to buy building materials to repair his bad house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 12, 2012
Sep 24, 2012
Currency Exchange Loss:
Oct 17, 2014