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Buyanbaatar
Buyanbaatar, 27 years old, lives with his wife and three children in Darkhan, the second largest city in Mongolia. They own a house in a suburb of Darkhan. The eldest daughter is 7 and attends a local school and the two other children go to kindergarten. In 2003, Buyanbaatar bought a car on leasing contract from the bank and started his taxi business. He has been in this business for 7 years and bought a house for his family from his taxi business profit.

Buyanbaatar’s wife is a disabled woman with a lame leg, but she is a very energetic and enthusiastic businesswoman. She runs a small workshop in which she makes interwoven wool clothes and fabrics. She has six looms and employs four weaver workers. She produces wool products for a local textile factory on subcontract. Her order increases in the winter.

Buyanbaatar and his wife raise a chicken and ducks in the garden as well. The reason Buyanbaatar is requesting this loan is he wants to build a warm garage for his car and save garage rent money. In wintertime in Mongolia, especially at night, the temperature drops to minus 40 degrees Celsius, which makes starting a car a burden for the drivers. He also wants to buy some wool threads for his wife’s business.

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 Mongolia

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,317.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Buyanbaatar to build a warm garage for his car and buy wool threads for his wife's business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 7, 2010
Listed
Sep 9, 2010
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2011