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Mr. Byambatogtokh, 29, runs a taxi business around the districts of Ulaanbaatar, the capital city of Mongolia. He has been running his business since 2007, and once he changed his car to a better one. His business is a main income source of his family these days. Before, he used to work as a cook, but his salary did not usually meet his family’s necessities. Now he lives with his wife and his three children in his small, old house, which is in the slum district of the city.

His wife Bolormaa, 31, is unemployed but she is planning to start a new business such as a cafeteria near their home. Byambatogtokh has experience in this kind of business. They are planning to run their business in a rental house, so that Byambatogtokh needs 1,500,000 MNT to cover the rental payment of their cafeteria house at first.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $1,150 helped Byambatogtokh to cover the payment for a rental house for a cafeteria business.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 25, 2012
May 14, 2012
Currency Exchange Loss:
Jun 13, 2012