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Mr. Tseregjil, 30 years old, lives with his wife and children in Kherlen, an easternmost town of Mongolia. He has been working at a building company since 2010. His wife is a saleswoman and working at the same firm for seven years. He is requesting a loan of 2,000,000 MNT to make an extension to his old house by buying building materials such as bricks, cement, planks and shingles. After the extension, the family will live in a comfortable and warm place where they won't burn as much coal as they used to due to heat loss. Less coal usage means less pollution in air as coal is considered the main source of pollution according to state research.

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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
  • 1,619.5
    Mongolia Tugriks (MNT) = $1 USD