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Erdenebat
Erdenebat is 36 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. They all live together in their own house. His daugther, Munkhchuluun, is 14 years old and attends a local secondary school. His younger daughter, Munkhchimeg, is three years old and attends kindergarten. During the day, Erdenebat’s wife, Tsogzol, operates a trading business at a local market called Narantuul. She operates a retail business and purchases a variety of products from Ereen, a Chinese border city, and resells them for a profit. She started her business in 2000 with working capital of 500,000 tugrugs ( about $362). After years of successful operations, she has managed to increase her working capital to a level exceeding 2,000,000 tugrugs (about $1,445) today. Erdenebat operates a transportation business in his local area. Erdenebat is now requesting a loan for his wife's business to purchase a variety of products in Ereen, a Chinese border town, to resell for a profit.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,386.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Erdenebat to increase working capital.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 11, 2010
Listed
Jun 6, 2010
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2011