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Mandakhbayar is a 35-year-old father of two children. He has been employed as a driver for a taxi service company since 2003. He owns his car and continues the taxi business. His family lives in a rented apartment.

Mandakhbayar’s wife sells shoes which are purchased from Erlian, a border town in China. She rents a stall at an outside market and the rent costs much of her profit. Therefore, Mandakhbayar and his wife plan to rent another stall beside the current one in order to expand the business. This will support him in increasing his family's income and further improving their lives. Mandakhbayar is requesting a loan to cover the rental fee of another stall for his wife's new 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

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,260.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,325 helped Mandakhbayar to cover the rental fee of another stall for his wife's new business.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Sep 20, 2011
Oct 10, 2011
Currency Exchange Loss:
Jun 15, 2012