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Mr. Otgonbaatar, 51, a divorced man whose children live with his former spouse, operates a taxi around the districts of Ulaanbaatar, the capital city of Mongolia. A former bus driver with over 30 years of experience, he has been conducting his business since 2009.

In order to provide better service and increase his business volume, he recently replaced his old Russian car with a new Toyota Carina. Otgonbaatar is now requesting this loan to cover the cost of his new car.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Otgonbaatar to cover the cost of his new car for his taxi business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 14, 2011
Nov 22, 2011
Currency Exchange Loss:
Feb 15, 2012