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Chinbat, 51, is a teacher at a driving school. He has been doing his job for 16 years and he lives with his family in the common which is located in the boundary district of Ulaanbaatar, the capital city of Mongolia.

His living apartment was built in early of 1970. Lately it has became old and difficult to live in because no renovations have been made since it was built. Therefore he is planning to make the renovations to his apartment before the coming spring. The loan he is taking will be dedicated to purchase the necessary building materials to make a renovation to his rooms.

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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,925 helped Chinbat to purchase the necessary building materials to make a renovation to his rooms.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 12, 2011
Dec 17, 2011
Currency Exchange Loss:
Jan 17, 2014