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Mr. Batnasan, 35, lives with his wife, three children and father in Ulaanbaatar, capital city of Mongolia. He and his wife have been running a music training center for nine years. Generally his wife teaches music to students and he has duties managing this training center. His wife teaches how to play piano, harp and guitars to children. Due to his excellent management and his wife's teaching skills, the number of students enrolling in this training is increasing each day. So he decided to purchase additional musical instruments. He is requesting a loan of 4,000,000 MNT to purchase a piano, guitars and harps. By doing so, he will be able to expand his business as well as to generate more income for his family. The borrower is a very hardworking individual who worked in Korea on employment contract before this business.

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
  • 1,417.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,825 helped Batnasan to purchase a piano, guitars and harps.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 24, 2013
Jun 1, 2013
Currency Exchange Loss:
Jan 17, 2015