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Mr. Munkhtulga is a 22-year-old single man who lives with his parents and his sister in a ger, a Mongolian nomadic tent, in the suburban district of Ulaanbaatar, the capital city of Mongolia. Since last autumn Munkhtulga has been offering passenger transportation services with his minivan around the districts, having purchased his vehicle from the market of used cars.

Because he still has not been paid for its entire cost, he is requesting a loan of MNT 2.500.000 to do so. His parents report that Munkhtulga’s new business has been helping to increase their family income day by day.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Munkhtulga to cover the cost of his minivan.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 5, 2012
Apr 17, 2012
Currency Exchange Loss:
May 17, 2013