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Mr. Bayanzul, 29 years old, lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. His wife holds a position of teller at a private bank. His daughter, five years old, goes to kindergarten. He runs an automobile sales business. He purchases old automobiles at low prices and later sells them to customers at high prices. He has been running this business for almost five years and accumulated a vast amount of experience in the sales of automobiles. This young couple wants to improve their living environment by purchasing furniture for their home. So he is requesting a loan of 4,000,000 MNT to purchase a table, chairs, sofa, drawers, etc. As a result, the family can live in a comfortable place and can work enthusiastically. The borrower is a very hardworking individual who is striving for a better life and believes only hard work can make his dream come true.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,900 helped Bayanzul to purchase furniture.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jan 7, 2013
Jan 14, 2013
Currency Exchange Loss:
Aug 17, 2014