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Mr. Gerelchuluun, 25 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. He has been rendering taxi service to local people since 2012. Before driving a taxi, he had worked as a bone-setter for five years. This year his wife is graduating from a technical university majoring in machinery and technology.

The family has recently purchased land and an old wooden house. The house they bought is old and has fragile walls so Gerelchuluun is requesting a loan of 2,000,000 MNT to purchase building materials necessary for house renovation such as bricks, planks, cement and iron. As a result, he and his family can live in a comfortable and warm place, reducing their coal consumption, releasing fewer pollutants and then contributing to the efforts against air pollution as a responsible citizens who care for and protect the environment. The borrower is very hardworking individual who cares for his family deeply.

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
  • 1,432.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Gerelchuluun to purchase building materials.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
May 14, 2013
May 24, 2013
Currency Exchange Loss:
Dec 17, 2014