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Davaajav, 27, is a serviceman, and he has been working for five years at a private auto service business. He lives with his wife and does not have any children yet. Davaajav is a very hard-working and sensible businessman. He plans to build an apartment complex in the district near the colleges and rent the units to students or other people who need housing. Over the last several years, there has been a lot of population growth in the districts of Ulaanbaatar, the capital city of Mongolia. Therefore, he needs to increase his income in order to have capital for his new business. Davaajav plans to start a taxi business to supplement the income from his current job by working at night and on his day off, but he does not have the money to purchase a car. He needs over MNT 3,000,000 to cover the cost of purchasing a car for his 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
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Davaajav to purchase a car for his taxi business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 16, 2011
Dec 1, 2011
Currency Exchange Loss:
Jan 15, 2013