A loan of $625 helped to purchase milk.


Otgonjargal's story

Otgonjargal is a widow and lives with her daughter in the Chingeltei district of Ulaanbaatar, the capital city of Mongolia. Her daughter is a nineteen-year-old student at a local university. Otgonjargal has a small business making processed milk products, such as cheese and ice-cream. She was briefly trained in making milk products in 1981. In 1998, she decided to use her previous training and to pursue a business making milk products.

She started the business with 400,000 MNT of working capital ($1 USD=1,500 MNT) and sells her products from outside her house, which is located next to the road. An advantage of selling her products outside her home is that there is no rent. Her business capital has increased to 1,600,000 MNT. The business usually peaks during the summer time. As the summer approaches, she is requesting a loan to purchase more milk.



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Loan details