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Munkhjargal, 41, is a home television repairman. He lives with his wife and 4 children in his own house in Erdenet, the third-largest city in Mongolia. His older daughter, 21, works for a private company. The others are pupils in secondary school.

Munkhjargal started his own business in 2000 and he plans to expand and improve it in the future. Currently, he and his family are renovating their home to improve their living conditions. But now he can’t finish the renovation, due to a finance issue. Therefore, Munkhjargal is taking a loan to buy some construction materials to finish the adjustment to his house and improve the family's quality of life.

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 $2,450 helped Munkhjargal to buy some construction materials to finish a home renovation.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 18, 2011
Jul 24, 2011
Currency Exchange Loss:
Aug 15, 2012