A loan of $400 helped to increase his working capital for his iron craft business.

Jargalsaihan's story

Jargalsaihan R. is 46 years old and lives with his wife and two adult children in the Songinohairhan district of Ulaanbaatar, the capital city of Mongolia. They live together in a ger, a traditional Mongolian nomadic tent. His oldest son attends college while his wife sells a variety of Jargalsaihan’s steel and iron products from a rented stall at the Harhorin, one of the main markets in the city.

Jargalsaihan has been working as an ironsmith in his home since 2004. Before starting his iron craft business, he worked as a bookkeeper for a company in Hovd province in 1978 and an electrician for the Tulga company in 1990. Besides his business earnings, the family has several income sources including his wife's monthly pension of 104,000 MNT and his monthly disability pension of 54,000 MNT.

Jargalsaihan is requesting a 500,000 MNT loan in order to increase his working capital for his ironcraft business. In the future he hopes to expand his business by producing more kinds of products. Jargalsaihan says, "I want to continue grow my business, and buy a plot of land and fence for my son who will live on his own soon."

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