A loan of $2,850 helped to buy more shoes for the summer season and to enlarge his stall.

Tsendjargal's story

Mr. Tsendjargal, 24 years old, lives with his wife and only son in Ulaanbaatar, the capital city of Mongolia. His son attends a kindergarten. Tsendjargal’s wife, Tumendolgor, 24, is an orphan and she carries the duty to look after her three younger sisters.

Tsendjargal runs a shoe retail business in the Narantuul, the biggest outdoor market in Ulaanbaatar. He works all year round and it is very hard to stay outdoors all day long, especially in the winter, because the average winter day temperature is minus 25 degrees Celsius. He has been running this business for 5 years has gained a lot of experience in the shoe sale market. Tsendjargal is planning to expand his business by enlarging his stall and increasing his working capital. Therefore, he needs to rent one more neighboring stall and to fill it with shoe products. He will use this loan to buy more summer shoes to increase his inventory and to pay for his first stall rental payment.

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