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Mr. Otgonbayar, age 47, is a radioman in a military unit of the Mongolian armed forces. He owns land and wooden houses in the outer city of Ulaanbaatar, the capital of Mongolia. He rents his houses to the families who move into the city and want to pay cheaper-than-market rent costs. It is an additional business of his income source. Currently there are eight households on his land and every month they pay him rental payments. Lately, his houses have been become old and damaged in some parts. Therefore he is planning to renovate them before this winter. This will be beneficial to his business future and will provide more comfortable living conditions for his customers. He needs the loan to purchase building materials to renovate his rental houses.

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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,325 helped Otgonbayar to purchase building materials to renovate his rental houses.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Oct 27, 2011
Nov 8, 2011
Currency Exchange Loss:
Apr 25, 2012