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Mr. Badarmaa, 54, has worked as a tractor driver for a company since 2000. His wife works as a janitress in a clinic. In addition to her job, she makes woven clothes and sells them to shops or consumers at a low price. He has five children and most of them have moved out of their parents’ home. Now, he lives with his wife and younger children in Darkhan, the second largest city in Mongolia. This coming August, one of his daughters will move out and start her own life with her boyfriend. But first, she needs to buy an apartment with one room. Badarmaa decided to help his daughter to cover the remaining cost of purchasing her apartment. Almost all of his relatives and friends have helped him to collect money for his daughter to start her individual life. His loan will be dedicated to covering the cost of a new apartment for his daughter.

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
  • 1,335.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $2,925 helped Badarmaa to cover the cost of a new apartment for his daughter.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 4, 2012
Jul 10, 2012
Currency Exchange Loss:
Aug 9, 2012