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Mr.Bayarsaikhan, a 35-year-old taxi driver, lives with his wife and three daughters in a small house in a suburb of Ulaanbaatar, the capital city of Mongolia. His eldest daughter attends primary school, while the second one attends a kindergarten and the youngest one stays at home in her mother's care.

Bayarsaikhan has been operating a taxi business for seven years, while his wife looks after the children. An experienced taxi driver, he likes his job and earns around 300 USD a month. During the past seven years he has managed to buy a family car and a small family house from his savings. Bayarsaikhan is now requesting a loan to renovate the house where they live. The loan will enable him to buy necessary building materials such as cement, sand, wood planks, paints, and plasters.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,240.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Bayarsaikhan to buy necessary building materials such as cement, sand, wood planks, paints, and plasters to renovate the family house.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 22, 2011
Apr 25, 2011
Currency Exchange Loss:
May 15, 2012