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Mr. Soninbayar, 21, drives a taxi around the districts of Ulaanbaatar, the capital city of Mongolia. He has been conducting his business since 2009 and has gained enough experience by himself. He is divorced and his children live with his wife.

Recently, he has changed his old Russian car by buying a new one for serving and improving his business. But he still could not pay its costs off to the seller. Changing cars will influence the passengers' satisfaction and increase the number of them. The loan he is taking will be used to cover the cost of his new 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
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Soninbayar to cover the cost of his new car for his taxi business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 6, 2011
Dec 15, 2011
Currency Exchange Loss:
Sep 15, 2012