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Mrs. Pagmadulam is 33, unmarried and lives with her brother in Ulaanbaatar, the capital city of Mongolia. Since 1999, she has been working as a hairdresser. In 2005, she could start own business in this field and opened her barbershop called “Usukh”. She hired two hairdressers in her salon and renders a manicure service to the clients. Pagmadulam is one of the hard-working women and her daily job continues between 9:00 am-10:00 pm everyday. Recently, she has been planning to expand her business by improving her equipment or making a repair to her workplace. But she needs financial support to do it. It’s very important for her business and life.

Therefore, she is taking a loan to purchase some new equipment and to renew her barbershop.

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
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,232.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Pagmadulam to purchase some new equipment to renew her barbershop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 4, 2011
Aug 13, 2011
Currency Exchange Loss:
May 17, 2013