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Mrs. Oyun D. is 49 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. Oyun and her husband, Lkhasuren, have been running a furniture-making business since 1998. They have managed to send the elder daughter to Korea to study. Their son is a sculpture who works on a freelance basis and also helps with the parents’ business. The younger daughter studies at the local University of Agriculture.

Oyun and her husband buy materials such as plywood, HDF board, glue and fabric from local wholesalers and make different household furniture for apartments and gers (a traditional Mongolian nomadic tent). They sell them at Narantuul and Denjiin myanga, the two biggest outdoor markets in Ulaanbaatar.

Since Oyun and her husband started their business, they managed to buy a family house with a plot of land. Currently they are doing some renovation to the house. The loan they are requesting will be used to renovate the house and to increase their working capital and inventory.

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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,316.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Oyun to renovate their house and increase their working capital and inventory.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Sep 29, 2010
Oct 6, 2010
Currency Exchange Loss:
Jan 15, 2012