Check out some available loans that are similar to this one!
Erkhembayar
Erkhembayar is a 26-year-old single man. He lives with his mother and younger brother in Ulaanbaatar, the capital city of Mongolia.

Before 2009, he used to run a transportation business and left it because of the tough competition. Since 2009, he has been running a small variety store and his business has been expanding since then. He managed to finish building a family house.

In Mongolia, a variety store is basically a small convenience store which retails groceries, toiletries and beverages piecemeal to the local neighborhood. He is the only breadwinner in this family and supports his old mother and younger brother.

Currently, he is renting this shop on two-year agreement. His future plan is to build his own small shop. The reason he is asking for this loan is to make some internal renovations to the shop and to increase his profit by adding some 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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,327.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,650 helped Erkhembayar to make some internal renovations to the shop and to increase his profit by adding some working capital.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 9, 2010
Listed
Sep 17, 2010
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2011