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Mr. Bayarkhurel, 38 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. The family resides in their brick house on a small plot of land. Bayarkhurel is an interior decorator by trade and he used to work at a building company. However, he and his wife have been running a pub since 2011 and have now secured many permanent customers. In addition, they have hired two people - a waitress and a cashier.

The house that the family lives in has deteriorated over the years and needs some interior and exterior repair. Thus, Bayarkhurel is requesting a loan of 6,500,000 Mongolian tugriks (MNT) to purchase building and insulation materials such as cement, wallpaper, fiberglass, foam and metal. Using those materials and his professional skills, he will be able to repair and insulate his old brick house, restoring it to its original state. The renovated house will have a positive effect on the environment as the family will burn less coal, and hence release less pollutants into the atmosphere. Bayakhurel is a very hardworking individual who strives for a better future.

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
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $4,575 helped Bayarkhurel to purchase building and insulation materials.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 5, 2013
Jun 13, 2013
Currency Exchange Loss:
Jul 13, 2013