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Mr.Barsbold, 33, lives with his mother and a younger brother in Ulaanbaatar, the capital city of Mongolia. His mother is a pensioner and his younger brother is unemployed at the moment. Barsbold is an engineer, and has worked for a construction company in the past. He now rents a restaurant and also runs it. The restaurant is made as a ger, a traditional Mongolian nomadic tent. It looks like a huge dome and has the capacity to serve 30 people at one time. It attracts customers, especially tourists, in the summer season. He is very enthusiastic about his new business and dreams of building his own restaurant someday. His customers are now increasing due to the forthcoming spring and summer seasons. He is asking a loan for replacing some kitchen appliances and for buying more products to increase his serving capacity.

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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,210.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,675 helped Barsbold to replace some kitchen appliances for his restaurant and to buy more products to increase his serving capacity.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
May 4, 2011
May 22, 2011
Currency Exchange Loss:
Dec 15, 2011