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Turbold is 34 years old and lives with his wife and a son in Ulaanbaatar, the capital city of Mongolia. They live together in a rented one-bedroom studio apartment. His family used to live in France for seven years and he worked in a scrap yard over there and has gained a lot of experience over the years. Therefore he started his own spare parts retail business last year. He is renting a stall at the “Mison”, the auto center in Ulaanbaatar city.

Turbold purchased a small family car using his earnings. Turbold is a very hard-working and honest person who cares a lot about his family. His business is doing very well and he has his regular customers. He buys old cars and takes their spare parts out and sells them. Now it is the start of the warm season when the spare parts business gets busy, therefore he is requesting a loan to expand his business by buying an old car and some spare parts.

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
  • 1,203.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Turbold to buy some spare parts and an old car.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 8, 2011
Apr 12, 2011
Currency Exchange Loss:
Apr 16, 2012