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Byambasuren is 53 years old and lives with his wife and son in Darkhan, the second largest city in Mongolia. They live in a rental house.

Byambasuren runs a small flour mill and produces two types flour. He has been in business since 2009 and his earnings do not meet his family's needs.

In 2009, Byambasuren bought a small piece of land to build his second flour mill. And he started to build a house on the land.

But the house is not built due to have a money luck. Therefore, he is taking out a loan to purchase building materials to finish his house.

By the way, Byambasuren and his wife are very hard working and honorable.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,335.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Byambasuren to purchase building materials to build his house.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 1, 2011
Dec 13, 2011
Currency Exchange Loss:
Nov 15, 2012