Otgonbayar has two brothers, both of whom run their own businesses. She is requesting a loan of 3,000,000 MNT to purchase furniture such as a sofa, wardrobe, etc. For the upcoming Mongolian traditional holiday known as White Moon, she wants to decorate her home with new furniture as a symbol of welcoming the new year with new beginnings.
The borrower is a very hardworking and honest individual who strives to live a better life.
About Credit MongolCredit 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.
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Success!! The loan was 100% repaid