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Mr. Otgon-Erdene, 47 years old, lives with his wife and two children in a house on a plot of land in Ulaanbaatar, capital city of Mongolia. He and his wife have been working as a harvester and sales manager respectively in a private firm which plants vegetables in large amounts and sells them later to other firms. This summer they began making renovations to their house but due to a lack of fiances, Otgon-Erdene couldn't afford to purchase necessary furniture such as a table, a chair, cabinets and beds. Now he is requesting a loan of 4,000,000 MNT to purchase those materials. After installing the furniture, his house will be more comfortable to live in and he and his wife will be enthusiastic for their hard work.

Additional Information

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