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Naranbaatar
Naranbaatar N. is a 30-year-old man. He lives in the town of Ulaanbaatar. He is married and has 2 very young children. To make a living, Naranbaatar owns and operates a taxi. Naranbaatar has been engaged in this business for over 4 years, and earns approximately 400,000 tugrug a month from it.

In 2010, Naranbaatar joined Credit Mongol to gain access to financial services to help improve his living situation and ability to engage in business activities. He is now requesting a new loan of 500,000 tugrug. The current loan will be used to finish building his house.

About Credit Mongol:
Credit Mongol’s mission is to contribute to the prosperity of Mongols by providing diversified financial services to micro and SME clients and to become the best performing company in micro and SME financing in Mongolia.

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Naranbaatar to finish building his house.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 23, 2010
Listed
Apr 14, 2010
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2010