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Munkhbaatar
Mr. Munkhbaatar, 21 years old, lives with his wife and two children in Darkhan, the second largest city in Mongolia. His wife stays at home to look after the infants. After graduating from high school, Munkhbaatar took an accelerated excavator operator course for six months. Since 2012, he has worked as an excavator operator at a mining business. He accumulated quite a bit of money from the job. Using his accumulation, in autumn of 2012, he purchased an old house. The house needs some serious repair so he requests a loan of 2,000,000 MNT. The money will be used for the installment and painting of new windows. With new windows, the family can live in a comfortable and warm place because the house loses its heat through the current windows. The borrower is a very hardworking individual who strives for better life.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Munkhbaatar to install and paint windows.
86% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2013
Listed
Feb 1, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2015