Funded

Total loan: $400
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Erkan


A loan of $400 helped to buy more repair supplies and tools.


Erkan's story

Erkan B. is 47 years old and lives with his family in a ger, a traditional Mongolian nomadic tent, in Bayan-Ulgiy province in western Mongolia. His oldest two children, aged 21 and 22, currently live and study at a foreign university in Kazakhstan, while his youngest son, 17, attends a local high school.

Erkan owns and operates his own shoe repair business. He began his business in 2000 in a rented workspace at the local market. He has built his business to a consistent level and attributes its success to his strong selling and communication skills. He pays a monthly rent of 30,000 MNT. His service charge is between 1,000 and 4,000 MNT and he earns 50 per cent as net profit.

In the future, Erkan hopes to grow his business and have his own workplace. Therefore, he is requesting a 500,000 MNT loan in order to buy more repair supplies and tools for his shoe repair center as well as to purchase three tons of coals (costing 180,000 MNT) to prepare for the winter.



Loan details

Loan length:

20 months
Disbursed date: September 13, 2010

Lenders and lending teams



Loan details

Loan length:

20 months
Disbursed date: September 13, 2010