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Mr. Myagmardagva, 49 runs a freight transportation business around Ulaanbaatar, the capital city of Mongolia. Since 2004, he has been running his business, and he usually carries construction materials between two points. Currently, he lives with his wife on his plot of land. All his children moved out of their parent’s house.

He wanted to renovate his old house to run a grocery store in the roof hollow space. He thinks that this business will increase the income of his family and improve their living conditions in the future. Now he needs a loan to buy the building materials to renovate his roof hollow for opening the grocery store.

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
  • 1,320.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Myagmardagva to buy the building materials to renovate his roof hollow for opening a grocery store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 18, 2012
May 24, 2012
Currency Exchange Loss:
Apr 17, 2013