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Baatarjargal
Baatarjargal, 21, has been working as a taxi driver since 2009 and has gained much experience from this business field. At first, he used to hire his taxi car for MNT 20,000 a day from a private taxi company.

He started his career after he had just graduated from secondary school in order to have a life challenge. His job starts at 7am and finishes at 11pm at night on weekdays. Now he lives with his brother and his family in the slum district of Ulaanbaatar, the capital city of Mongolia.

Recently, he decided to move out to start his own individual life. To do so, he needs a complete ger (a traditional Mongolian nomadic tent) with insulation on the walls before this coming cold winter. Therefore, his loan will be used to cover the payment for a new ger for himself.

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

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,279.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Baatarjargal to buy a new ger for starting his own individual life.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 13, 2011
Listed
Oct 23, 2011
Currency Exchange Loss:
Covered
Ended:
Nov 15, 2012