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Munkhbaatar
Mr. Munkhbaatar, 45, is a transportation driver for a private company. He started his job this year in this company but has been working for many years as a driver. Munkhbaatar lives with his son and wife in a ger, the nomadic Mongolian traditional tent, in Ulaanbaatar, the capital city of Mongolia.

Last fall, he started building his own house beside his ger but could not finish it due to a lack of money, especially to purchase the necessary building materials to complete the house. He wants to finish it before this winter. Now he just needs to complete some parts of it such as windows, doors and wall insulation. Therefore, he will use his loan to purchase the building materials necessary for his new house. After the building is completed, he is planning to run a grocery store on the first floor of his house.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,292.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Munkhbaatar to purchase materials to build his house.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 1, 2011
Listed
Nov 8, 2011
Currency Exchange Loss:
Covered
Ended:
May 15, 2012