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Mr. Batkhuyag, 40, is a taxi driver and works around Ulaanbaatar, the capital city of Mongolia. For many years he has been running his business every weekday. He lives with his wife and his three children in the a slum district. Lately his taxi has been getting old and is damaged in most of its parts. It has a bad influence on his earnings and the quality of his service. Therefore he decided to exchange his car for the new one which is named Hyundai Verna. But he lacks money to cover its cost.

Therefore the loan he is taking will be dedicated to covering the cost of purchasing the car to improve his business. As he said, his earnings will be increased notably after he has the new car.

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 $1,475 helped Batkhuyag to cover the cost of purchasing a car to improve the business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 23, 2011
Jan 11, 2012
Currency Exchange Loss:
Jul 15, 2012