He has been rendering a taxi service to local people on contract with a private taxi company for nine consecutive years and accumulated a vast amount of experience in this field. His wife is a saleswoman at a trade center. Also, he leases a tire repair workshop to people on a monthly basis. Last year, he began building a house on his land because living in a ger during the winter time is very hard. But due to a lack of finances, he has only built the house's foundation and now lots of work remains undone. So he is requesting a loan of 6,600,000 MNT to purchase building materials such as planks, cement, and gypsum. Using these materials, he can complete the house-building work and provide his family members with comfortable and warm accommodations. When his family moves into the house, they will reduce their coal usage for heating and it will contribute to the efforts against air pollution by releasing less carbon dioxide. The borrower is a very hardworking individual who lost his parent in his earlier childhood and has lived on his own until now.
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 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