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Lkhagvatseren is 36 years old, lives with his wife and a 13-year-old son in their house in Ulaanbaatar, the capital. Their house is located in the area of the city with no running water, minimal roads and spotty electricity. Lkhagvatseren has been running a transportation business with his wife since 2000. He rides a micro-bus with 14 seats and runs through the east and west sides of the city. His wife works as a conductor and gathers the money from passengers for the transportation. Lkhagvatseren loves his micro-bus because it provides money to his family.

So before the winter Lkhagvatseren is planning to build a garage near his house to prevent the car from freezing up. If his car breaks down he would need more days to fix the car and to spend additional expenses.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Lkhagvatseren to build a garage near his house to prevent the car from freezing up.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 26, 2012
Nov 25, 2012
Currency Exchange Loss:
Nov 17, 2013