Total loan: $2,175
Ulaanbaatar, Ulaanbaatar, Mongolia / Arts
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A loan helped to purchase cotton, silk, and other textiles.
Mr. Davaajav, 49, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family resides on a plot of land in their own house which was built with loan funds. Mr. Davaajav's wife has been sewing deel (Mongolian traditional costume) at home for fourteen years. His second son lives on his own, and his youngest son now studies at university. Mr. Davaajav himself has been running a transportation business using his own truck since 2008. He is requesting a loan of 3,000,000 MNT to increase his wife’s business capital by purchasing cotton, silk, and other textiles. During the Mongolian traditional holiday known as White Moon, demand for Mongolian traditional costume is high; thus, it is a golden opportunity for making money. As a result, the family can generate more income for their children’s education. Mr. Davaajav and his wife value their children’s education highly; they are invested in their elder son’s education while he studies in China.