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Ganbold
Ganbold is 26 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. He and his family live together in a traditional Mongolian nomadic housing tent called a ger. His 2-year-old daughter, Anujin, attends a local kindergarten. Ganbold currently operates a clothing sales business at Narantuul market, the largest and most crowded market in the city. He purchases a variety of products from Ereen, a Chinese border city, and resells them for a profit. He started his business in 2001 with working capital of 200,000 tugrug (~ 146 USD) and has expanded his business and built a loyal customer base. Recently, in 2008, Ganbold and his wife purchased their own plot of land. They have been planning to build a house with a yard on their own land and buy new car. Ganbold is a very hardworking person. He is requesting a loan to increase his working capital.

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

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,383.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,650 helped Ganbold to increase working capital for his retail clothing buiness.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2010
Listed
Apr 27, 2010
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2011