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Myagmarsuren
Mr. Myagmarsuren, 54 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. His son studies at a technical college, and his daughter goes to high school. He and his family came to Ulaanbaatar five years ago in order to improve their standard of living. They immediately began their business selling Mongolian traditional gers (portable felt dwellings) after settling in Ulaanbaatar. He is applying for a loan of 3,000,000 MNT to buy raw materials, such as planks and felts. Using these materials, he can continue to make Mongolian traditional gers without worrying about shortages of raw materials. The borrower is a very hard-working individual who strives for a better future.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,423.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,125 helped Myagmarsuren to buy planks and felts for his business of making and selling Mongolian traditional gers (portable felt dwellings).
83% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 13, 2013
Listed
May 18, 2013
Currency Exchange Loss:
Possible