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Mr.Batbayar, who is 27 years old, lives in a rented apartment with his wife, son and his wife’s grandmother in Ulaanbaatar, Mongolia's capital city. He has worked at one of Ulaanbaatar's power plants as a mechanic since 2004.

Batbayar recently bought a plot of land and a small house using his savings and a loan from the bank. Because the house is quite old and needs some restoration, the loan he is requesting will be used to buy necessary building materials such as cement, sand, wood planks, plaster and paints to restore the 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
  • 1,244.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Batbayar to buy necessary building materials such as cement, sand, wood planks, plaster and paints to restore his recently-bought house.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 27, 2011
Jun 6, 2011
Currency Exchange Loss:
Aug 15, 2011