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Lhagvajav is 27 years old. He lives with his wife, son and step-daughter. He fell in love with a woman who is eight years older than he is. He moved to Ulaanbaatar (the capital city of Mongolia) from the countryside in 2005. He has worked as a massager in a traditional bone-setting hospital. He was doing the job for three years. However, the salary was not enough for his and his family's needs. He decided to quit his job and started his own taxi business. His business is growing well, and the income is increasing lately. He said it is more profitable than the fixed salary. He is a very hardworking and honest person who always cares for his family.

His wife used to run a small clothing shop, but she closed it due to the pregnancy. Now, she wishes to continue her business. Lhagvajav is requesting a loan to purchase inventory for his wife’s clothing shop.

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
  • 1,294.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Lhagvajav to purchase inventory for his wife’s clothing shop.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Oct 11, 2011
Oct 26, 2011
Currency Exchange Loss:
May 17, 2013