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Bayar is 26 years old and lives with his wife and infant daughter in Ulaanbaatar, the capital city of Mongolia. They don’t have their own house but they live in a traditional Mongolian nomadic tent on his parents' land. He has a second-hand microbus (people carrier or van) and got a contract with the transportation authority to carry people on remote bus routes. He has been running his transportation business since 2006. His wife Solongo works with him as a cashier.

Bayar is a very hardworking and optimistic person whose goal is to extend his business and provide for the necessary expenses of his family. He also wants to have his own plot of land and a house to live in.

Last year he took a loan from our institution to renew his minivan. This is his second Kiva loan through Credit Mongol and this time he is requesting a loan to purchase some spare parts to repair and service his vehicle.

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

  • $5,900
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,255.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Bayar to purchase some spare parts to repair and service his vehicle.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Nov 23, 2010
Dec 1, 2010
Currency Exchange Loss:
Feb 15, 2011