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Mr. Baasankhuu, 26, drives a taxi around the districts of Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his son, 2, in his parents-in-law’s house. Recently he purchased a small plot of land in the suburban district of the city. He is grateful for his family, because now they can move out of their parents' home and live by themselves. Baasankhuu is planning to start building his new house but he has some financial difficulties – especially purchasing some expensive building materials on the market. One of his friends, who has his own building material supply business, recommended he purchase things below the market price. The loan he is taking out will be dedicated to the purchase of necessary building materials for his new 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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,320.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Baasankhuu to purchase necessary materials for building his new house.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Mar 16, 2012
Mar 24, 2012
Currency Exchange Loss:
Dec 15, 2012