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Mr. Khatanbaatar, 23, is a taxi driver and lives with his wife in a rental apartment in Ulaanbaatar, the capital city of Mongolia. They married just this year and trying to solve the problems of a young family. He has been running a taxi business since 2009 and his daily earnings are not enough for his life. His wife used to work as a sales manager in a company, but she became unemployed after the world economic crises in 2009. Now the taxi business is the main income source of this family.

Khatanbaatar has a plan to furnish and make adjustments to his rental apartment. But he lacks money for some furniture and building materials for repair. Therefore he is taking a loan to use as an additional funding for purchasing the building materials and some furniture to improve his living conditions.

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
  • 1,253.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Khatanbaatar to have additional funding to purchase building materials and some furniture.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Aug 30, 2011
Sep 11, 2011
Currency Exchange Loss:
Apr 15, 2012