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Otgonjargal
Ms.Otgonjargal is a 27-year-old, single woman. She lives with her son in a one-bedroom apartment in Ulaanbaatar, the capital city of Mongolia. Her son is 4 years old. Otganjargal’s parents look after her son, giving Otgonjargal a chance to work and earn money. She has a boyfriend who works in Korea at the moment.

Otgonjargal worked at a factory in South Korea on a labor exchange contract for three years. When she came back from Korea, she started running a clothing retail business. She rents a stall at the Narantuul, the biggest outdoor market in Ulaanbaatar city.

She buys her products from wholesalers who import them from abroad. The rent price for the stall is quite high and its costly for her business. Therefore she decided to buy a stall at the Narantuul market, making an investment in her business. The loan she is taking will be used to buy a permanent stall at the market and to sell her products to clients.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,215.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Otgonjargal to buy a permanent stall at the market and to use it for her clothing sales business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 18, 2011
Listed
May 26, 2011
Currency Exchange Loss:
Covered
Ended:
Jul 18, 2011