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Bayanmunkh is 36-years-old and lives with his wife and two children in Mongolia. His two daughters both attend kindergarten. He has been driving a taxi for one year and his wife runs a tailoring business. He is a very diligent person who always cares about his family's wellness.

Recently Bayamunkh has purchased a small sized piece of land in the suburban area of Ulaanbaatar, the capital city of Mongolia. Now he is planning to build a house on his land but he lacks the money lack to build his new house. The loan he is requesting will be used to purchase construction materials to start building the family house on the land he has just purchased.

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
  • 1,264.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Bayanmunkh to purchase construction materials to start building a family house on the land he has just purchased.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Sep 27, 2011
Oct 7, 2011
Currency Exchange Loss:
Aug 15, 2012