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Erdene-Ochir
Erdene-Ochir, 42, is a taxi driver. Since 2008, he has run his business in the districts of Ulaanbaatar, the capital city of Mongolia. Erdene-Ochir has gained enough experience to continue his business in the future. He lives with his wife and two sons in his brother’s house.

Erdene-Ochir's wife recently started a new textile business with her sister. They run the textile business from their rental apartment. The textile business preparations are going well, but they need sewing tools and raw materials to start the work. Exactly MNT 1,000,000 is needed to purchase the sewing materials. Therefore, Erdene-Ochir requests a loan to support his wife so she can purchase textiles, a sewing machine, and other tools to start the new business.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,299.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Erdene-Ochir to support his wife so she can purchase textiles, a sewing machine, and other tools to start her new textile business.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2011
Listed
Nov 7, 2011
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2012