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Otgonmend
Otgonmend is 30 years old and lives with his wife and 3 year old daughter in Darkhan, the -second largest city in Mongolia . His wife stays home and looks after their child. He has been running a small shop which sells mobile phones, chargers and phone accessories from China since 2008. Recently Otgonmend started a cell phone repair service based on the experience he gained in the last 3 years. He thinks that he can increase his shop income by offering his customers more varieties of cell phones to choose from. Therefore he needs to buy more cell phones for his shop..

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
  • 1,256.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Otgonmend to buy more cell phones to resell in his mobile phone shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 15, 2011
Listed
Jun 24, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2011