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Mr. Zolbayar is 28 years old and works as a technician in the power plant of Ulaanbaatar, the capital city of Mongolia. He has been working as a technician for six years. He is a young father and lives with his family in a house located in the industrial district of Ulaanbaatar. Mr. Zolbayar and his family have been living in this house since he was a child. Lately his house has became very old and much of it is damaged. Therefore he is planning to make some repairs and renovate his house by himself before this winter. He needs MNT 600,000 to purchase the building materials according to his calculations. The loan Zolbayar is taking will be used to purchase the necessary building materials to renovate his 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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,292.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Zolbayar to purchase the necessary building materials to renovate his house.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Oct 28, 2011
Nov 8, 2011
Currency Exchange Loss:
May 15, 2012