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Bayantsagaan, 36, runs a taxi business around Kherlen, an eastern boundary town. He lives with his wife and his 3 children on his plot of land. For over a decade he has been running his business. Last year he bought a truck for a freight transportation business to grow his family income, but it has been running not so successfully.

His daughter Oyungerel plays traditional instrumental music and recently she won an award in the state musical competition. Two months from now she is going to Japan for an international music competition. It will be a little bit expensive for his family budget. Therefore Bayantsagaan decided to earn the extra money for his daughter’s travel and competition expenses in Japan. It is a very important thing for him and his daughter. He is planning to do it by repairing his taxi and running his business much more in the next 2 months. Also he needs money to repair and renovate his old house. It was built in the early 1980s, but since then it has not been renovated. The loan he is taking will be dedicated to purchasing spare parts for his car and building materials for the house renovation.

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
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,975 helped Bayantsagaan to purchase spare parts for his car and building materials for the house renovation.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 12, 2012
Apr 26, 2012
Currency Exchange Loss:
Jul 15, 2012