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Mr. Ganselem requested a loan to increase his business output. He is 40 years old, a shoe seller, and lives with his daughter and wife in Ulaanbaatar-the capital city of Mongolia.

For 11 years he has been running his business in persistent way and has gained much experience in this field. He is a very sensitive businessman and a new academic year is starting soon, which means there will be a lot of shoes necessary and a lot of purchases from his shoes kiosk.

He feels that if he can increase his business' current assets, likewise his income is going to increase slowly. Now he needs to buy a large number of shoes from his suppliers.

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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,236.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Ganselem to buy a large number of shoes to increase his sales and current assets.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 16, 2011
Aug 24, 2011
Currency Exchange Loss:
Oct 15, 2012