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Byambadorj
Byambadorj, age 35, has been working as an IT specialist since 2007. He lives with his wife and his three-year-old son in his brother’s house, which is in the ger district (a ger is a Mongolian nomad's yurt, or portable dwelling) in Ulaanbaatar, the capital of Mongolia. Living in a ger is uncomfortable and cold, especially in winter. Byambadorj has always wanted to have his own apartment in the city. Recently he put in an order for an apartment with a construction company, but he needs money to cover the advance payment. This is a very important thing for his family, because they have never lived together in an apartment before. The loan Byambadorj is taking will be used to cover the advance payment for the apartment.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Byambadorj to cover the cost of an advance payment on an apartment.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 17, 2012
Listed
May 21, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012