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Dorjpalam
Mr. Dorjpalam, 69 years old, lives with his daughter in Ulaanbaatar, the capital city of Mongolia. He has been making horse hair fiddles since 2005 and sells them to local retail shops. His daughter works at a private business company.

Due to lack of finance, his daughter is postponing her graduate education in Germany. So Dorjpalam is requesting a loan of 4000000 MNT to pay for his daughter's living expenses in Germany. After studying in Germany, his daughter will be able succeed in her career and that's what he wants.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,567.4
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,575 helped Dorjpalam to pay tuition fees for his daughter.
96% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 23, 2013
Listed
Aug 21, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014