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Tsendjargal
Mr. Tsendjargal, 24 years old, lives with his wife and only son in Ulaanbaatar, the capital city of Mongolia. His son attends a kindergarten. Tsendjargal’s wife, Tumendolgor, 24, is an orphan and she carries the duty to look after her three younger sisters.

Tsendjargal runs a shoe retail business in the Narantuul, the biggest outdoor market in Ulaanbaatar. He works all year round and it is very hard to stay outdoors all day long, especially in the winter, because the average winter day temperature is minus 25 degrees Celsius. He has been running this business for 5 years has gained a lot of experience in the shoe sale market. Tsendjargal is planning to expand his business by enlarging his stall and increasing his working capital. Therefore, he needs to rent one more neighboring stall and to fill it with shoe products. He will use this loan to buy more summer shoes to increase his inventory and to pay for his first stall rental payment.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,230.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,850 helped Tsendjargal to buy more shoes for the summer season and to enlarge his stall.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 21, 2011
Listed
Apr 25, 2011
Currency Exchange Loss:
Covered
Ended:
May 23, 2012