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Erdenetsogt is 32 years old and lives with his wife and two children in his wooden house in Ulaanbaatar, the capital city of Mongolia. They built their house themselves. Since 2007, Erdenetsogt has been working as a driver in a mining company that is undertaking exploration work in another province of Mongolia. His wife has worked as a steel frame worker in a building company for seven years. In winter, when his company stops working due to the frozen ground, Erdenetsogt runs a taxi business and his wife works as a plasterer in her company. His two children attend a secondary school near their home.

Last spring, Erdenetsogt's coal burning furnace was ruined. So, before the winter, Erdenetsogt is preparing his home and planning to install a low-pressure furnace and build a block fence around his home. For this reason, Erdenetsogt is asking for a 3,000,000 MNT loan. By doing this, his family will be provided with comfortable living conditions. And, most importantly, he can cut their usage of coal by using a low-pressure furnace and save his land from the stiff winds that usually occur in spring.

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
  • 1,384.2
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,175 helped Erdenetsogt to install a low-pressure furnace and build a block fence around his home.
Repayment Term
17 months (Additional Information)
Repayment Schedule
Sep 24, 2012
Nov 5, 2012
Currency Exchange Loss:
Dec 5, 2012