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Update on Bold

Mr. Bold, 46 years old, still lives alone in Ulaanbaatar, capital city of Mongolia. For 18 years he has been rendering taxi service to local people. Using his previous loan, he repaired his garage and built a brick house. This time, he is requesting a loan of 1,900,000 MNT to buy automobile spare parts for car repair. This car is his treasure as well as life blood.

Previous Loan Details

Mr. Bold, 46 years old, lives in Ulaanbaatar, capital city of Mongolia. He resides in a Mongolian traditional ger (portable felt dwelling) on his brother’s plot of land. His brother operates a grocery store on his land. Since 1995, he has been providing taxi service to local people and accumulat... More from Bold's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.


About Mongolia

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,689.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Bold to buy spare parts for his car.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Nov 26, 2013
Dec 16, 2013
Currency Exchange Loss:
Nov 17, 2014
This photo was used before for a previous loan for Bold. It was first posted on Kiva on Jan, 2013. Learn More