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Chagnaadorj is 32 years old and has two children, one of whom attends school. He is a vendor in a private company, which he has been doing for two years. However, his salary is not enough for his family's necessities and expenses, so he is trying to start a new business providing transportation around the city.

Chagnaadorj is requesting a loan to purchase a minivan for his new transportation business. According to this plan, the new business will increase his earnings in the future.

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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Chagnaadorj to cover the payment of his new minivan.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 21, 2011
Oct 31, 2011
Currency Exchange Loss:
Feb 15, 2013