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Balganjav, aged 72, is a pensioner and his wife is also a pensioner. They live in their small wooden house in the ger district, an area of the city with no running water, minimal roads and erratic electricity, in Ulaanbaatar, the capital city of Mongolia. His two sons and the family of one of them are also living on his plot of land. His older son is single and runs a taxi business. His younger son has a family which consists of five members: his wife and three children. His younger son is a driver for a tour company and his wife doesn’t have a job.

Balganjav started to build a house for his younger son’s family and the house is 20% complete. As every father loves his children, Balganjav is planning to build the house walls with materials such as cement, brick and glass-wool. This is to stop heat loss through the walls which, along with the house's interior decoration, will be built using energy-saving materials. A low-pressure furnace will be installed and this will emit less harmful chemicals into the atmosphere thus helping to save the environment. So that his grandchildren will live in comfortable conditions, Balganjav is requesting a 5,000,000 MNT loan to complete the new 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
  • 1,392.7
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,600 helped Balganjav to complete the new house.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Oct 29, 2012
Nov 23, 2012
Currency Exchange Loss:
Dec 17, 2014