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Ikhbayar is 30 years old, married, and the father of two children. He lives in Ulaanbaatar, the capital of Mongolia. His family lives together in a small wooden house. His wife Urangua works as a warehouse keeper at a construction company. His older son goes to a local secondary school, while his younger son stays at home. Ikhbayar has been operating a taxi service in the city for the last three years. He also works for a construction company as a plumber on a part-time basis. In the mornings, he takes his wife to work and his son to school. He is a very hard-working person who is providing a good education for his children. This is his third Kiva loan through Credit Mongol. He has used his previous loans appropriately, paying them back in full on time. This time he is requesting a 2,000,000 MNT loan to complete improvements to his house.

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
  • 1,230.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Ikhbayar home improvements.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 21, 2010
Feb 1, 2011
Currency Exchange Loss:
Dec 15, 2011