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Jargal
Mr. Jargal, 27 years old, lives with his wife and son in Ulaanbaatar, capital city of Mongolia. He has been rendering transportation service to local people since 2012 after quitting his blue collar job in a mining company. His wife has a position of book-keeper, and works in a fiberglass producing factory. Their son is a first grade student at an elementary school.

His brother studies in Korea and didn't pay his tuition fees due to lack of finances. So he is requesting a loan of 3,000,000 MNT to pay for his brother's tuition fees. As a sibling, he has responsibility of helping his brother, and he thinks investing in education is the best thing he can do for him because higher education will open more opportunities.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,672.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Jargal to pay for his brother's tuition fees.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 18, 2013
Listed
Oct 25, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014