Last updated on June 1, 2012

Partner Description: 

Credit Mongol is one of the first non-banking financial institutions (NBFIs) 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. Founded in 2000, it has grown to become the largest NBFI in the country, serving 3,882 clients last year alone.

Today, Credit Mongol has a Kiva portfolio of $543,389 financing 469 borrowers. It operates a network of 13 branches in addition to its headquarters, and offers 19 loan products to both urban and rural clients. 

Credit Mongol provides services and loan products tailored to consumers, micro-entrepreneurs and businesses in six of Mongolia's 21 provinces. It also reaches into extremely rural and remote regions more than 700 km away from the capital city of Ulaanbaatar, helping poorer citizens and small businesses that have typically lacked access to credit and other financial services. 

Uniquely, the institution offers loans for solar panel kits that are specifically designed and marketed to nomadic herders. For the many itinerant, rural families who have had no access to electricity, solar panel loans give them the opportunity to run electrical devices like lights and appliances, considerably improving their quality of life.

Credit Mongol is currently piloting a car leasing project, and hopes to introduce micro-housing loans in the near future. The institution is going through the process to become a certified bank so that it can offer even more diverse services to clients, including savings products. It also plans to open several new branches to expand its presence in rural areas.

Based on past and present success, Credit Mongol is continuously expanding to reach more micro-borrowers, and striving to become the most sustainable, socially-responsible and best performing institution of its kind in Mongolia.

You can join Credit Mongol's lending team here, or make a loan to a Credit Mongol borrower here.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Apr 14, 2010 Oct 12, 2005
Total Loans $4,208,100 $575,063,750
Amount of raised Inactive loans $0 $304,725
Number of raised Inactive loans 0 278
Amount of Paying Back Loans $2,224,750 $119,196,175
Number of Paying Back Loans 959 125,162
Amount of Ended Loans $1,983,350 $455,562,850
Number of Ended Loans 1,240 580,593
Delinquency Rate 0.00% 3.45%
Amount in Arrears $0 $2,701,152
Outstanding Portfolio $1,246,639 $78,368,672
Number of loanDelinquent 0 11,379
Default Rate 0.00% 1.08%
Amount of Ended Loans Defaulted $0 $4,937,756
Amount of Ended Loans $1,983,350 $455,562,850
Number of Ended Loans Defaulted 0 15,266
Currency Exchange Loss Rate 2.27% 0.07%
Amount of Currency Exchange Loss $95,411 $406,266
Refund Rate 0.06% 0.78%
Amount of Refunded Loans $2,625 $4,479,350
Number of Refunded Loans 2 5,008

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 43.25% 74.23%
Average Loan Size $1,913 $419
Average Individual Loan Size $1,913 $657
Average Group Loan Size $0 $1,824
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $2,175 $3,440
Average Loan Size / GDP per capita (PPP) 87.96% 12.17%
Average Time to Fund a Loan 12.82 days 5.51 days
Average Dollars Raised Per Day Per Loan $149.19 $75.90
  Average Loan Term 18.51 months 10.24 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,001 286,267
  Journaling Rate 60.03% 42.42%
  Average Number of Comments Per Journal 0.02 0.08
  Average Number of Recommendations Per Journal 0.04 1.94

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Portfolio Yield 39.00% 38.00% 33.54%
  Profitability (return on assets) 4.4% 5.8% -1.15%
  Average Loan Size (% of per capita income) 137.80% 156.00% 41.59%

Country Fast Facts

Field Partner Staff

Zorigoo Agvaan
Bayar Bat-Ochir
Ariunbold Batbileg
Purevtulga Dorjpurev
Purevtulga Dorjpurev
Batchimeg Erdenechimeg
Ganbaatar Naranbaatar
Tsolmon Turtogtokh