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Baasansuren is 26 years old, lives with his wife and two sons in Ulaanbaatar, the capital of Mongolia. They live together in a small house on their plot of land. His two sons are attending a local kindergarten.

Baasansuren has operated a vegetable retail business for the last ten years and has gained a lot of experience. Since 2006 he has been renting a stall at “Kharkhorin” market. His wife helps his business during the day. As his business has grown, he has increased his inventory including fish, onions and fruit. Baasansuren is very hard-working person who is providing for his children’s future education and teaching them morals.

He lives a little far from the market; therefore he is planning to purchase a car, using his savings. Baasansuren is requesting a loan to build an extension to his house entryway and will use part of the loan to increase his working capital so he can buy more products for resale.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,222.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,050 helped Baasansuren to build an extension to his house entryway.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Feb 17, 2011
Mar 17, 2011
Currency Exchange Loss:
Jan 15, 2012