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Altai is 20 years old and lives alone in his wooden house in Ulaanbaatar, the capital of Mongolia. His house is located in an area of the city with no running water, minimal roads and spotty electricity. His parents live and work in the countryside.

Since 2010, Altai has been working as a carpenter for a construction company. He is a talented carpenter and began by sculpting little animal shapes when he was in secondary school.

Altai goes to work early in the morning and comes back at midnight due to his workload. When he comes home, a freezing cold house greets him. Thus, he is planning to insulate his home.

With this loan, Altai will fix the floor and roof of his house and make wall insulation using energy-saving materials. These changes will improve his living condition and stop the house from losing heat. As a result of these changes, he can save money that he now spends on heating and emit fewer of the hazardous chemicals generated by the coal-burning stove that warms 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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,600 helped Altai to insulate his house and fix the floor and roof.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 5, 2012
Dec 2, 2012
Currency Exchange Loss:
Dec 17, 2014