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Mr. Lkhagvasuren, 28, has been working as a taxi driver since last summer and gained much experience from this business field. His job starts at 7 am and finishes at 11 pm at night during the weekdays. Currently, he lives with his wife and daughter in the slum district of Ulaanbaatar, the capital city of Mongolia. Recently, he decided to move out to start his own individual life, but 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 of a new ger to start his own individual life.

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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $950 helped Lkhagvasuren to cover the payment of new ger to start his own individual life.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Dec 20, 2011
Jan 1, 2012
Currency Exchange Loss:
Dec 15, 2012