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Mrs. Soyol-Erdene, 23, is a nurse in a medical center. She lives with her mother and her younger brother in a rental ger, a traditional Mongolian nomadic yurt, in the ger district in Ulaanbaatar, the capital city of Mongolia. Every month, Soyol-Erdene pays her rental fee, which takes almost her full salary. Recently she found a small plot of land in a convenient place at a cheap price. She decided to take a loan to cover part of the cost of purchasing the land for her family.

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
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Soyol-Erdene to cover part of the cost of a small land plot for her family.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Sep 3, 2012
Sep 22, 2012
Currency Exchange Loss:
Oct 17, 2013