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Mr. Oktiabr is 31 years old and a chef. He lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. Oktiabr doesn’t own any land and his family live on his parents' property. Until the end of 2010, Oktiabr had worked as a chef at a restaurant for many years and he is an experienced chef.

In January 2011 he decided to open his own cafeteria and at the moment he is renting a small cafeteria and runs it together with his wife. Oktiabr makes the dishes and his wife works as a waitress. The cafeteria is located in quite a crowded area and always full of customers. Recently Oktiabr built a greenhouse in his garden and he is planning to grow vegetables there. Nowadays food safety, especially vegetables are a big issue. Therefore Oktiabr is planning to grow his own organic vegetables and to use them in his cafeteria. He thinks it will save some costs and will attract more customers. The loan he is taking will be used to buy some good quality seeds and to process the land.

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
  • 1,247.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Oktiabr to buy some good quality seeds to grow organic vegetables and to process the land.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 30, 2011
Jun 10, 2011
Currency Exchange Loss:
Dec 15, 2012