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Mrs. Munkhtsetseg, 37, is a teacher. She has been teaching for seven years. She lives with her husband and daughters in Kherlen, a boundary town of western Mongolia. Her husband works as a fireman and often has a high workload, but his income is not so good. Munkhtsetseg’s monthly salary also does not meet her family expenses, and as such they always face a lack of money. Due to this she and her husband decided to start a new business, a taxi service, to increase the family's income. Now she needs over 3,000,000 Mongolian Tugriks (MNT) to cover the cost of purchasing a new car to start the taxi business.

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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Munkhtsetseg to cover the cost of purchasing a new car to start a taxi business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 8, 2011
Nov 19, 2011
Currency Exchange Loss:
Apr 15, 2012