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Mr. Munkhbayar, 31 years old, lives with his wife in Ulaanbaatar, capital city of Mongolia. The couple resides in their own house on a plot of land. His wife studies at the university and will be graduating this year. He himself has been rendering taxi service to local people for two years. Besides taxi service, he also does building decoration work.

Munkhbayar finished building his house on his land in 2007 and since that time the house has been deteriorating over the years and needs some renovation. So he is requesting a loan of 3,500,000 MNT to purchase building materials such as bricks, cement, planks and a hardwood floor. As a result, the couple will be able to live in a more comfortable and warmer place in the cold period, especially in winter. The renovated house will also enable the family to burn less coal, thus contributing to the efforts against air pollution by emitting less smoke. The borrower is a very hardworking individual who deeply cares for his wife.

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 $2,525 helped Munkhbayar to purchase building materials such as bricks, cement and planks.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 8, 2013
Currency Exchange Loss:
Oct 17, 2014