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Mr. Batbold, who is 47, runs a taxi around the districts of Ulaanbaatar city, the capital city of Mongolia. He is widowed and now lives with his mother and daughter in the slum district of Ulaanbaatar. His monthly earning is not enough for his family's necessities. He has been running his business, which his father initially taught him, since 2003.

Now Batbold needs to renovate his taxi car for better service quality. He says that it will influence him to improve his business and increase his earnings. He will repair and renovate his car by himself this spring. The loan he is taking will be dedicated to purchasing spare parts for his car renovation.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Batbold to purchase spare parts to renovate his car.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Mar 19, 2012
Mar 29, 2012
Currency Exchange Loss:
Oct 15, 2012