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Mr. Gantulga is 35 years old and he lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He works as a driver in a company and doesn't earn enough to live on. In this year, his daughter will enter the kindergarten and his son goes to secondary school.

Gantulga wants to start a new business of clothing sales at a shopping center called Sky Plaza, because he thinks that it will be more beneficial to his life and it must increase his monthly earnings.

Therefore, at first, he needs to purchase and bring the commodities from China markets to sell to expand his current business assets. The loan he is taking out will be dedicated to purchasing the clothing goods to start his new clothes business.

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
  • 1,227.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,050 helped Gantulga to purchase clothing goods to start his new clothes business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 12, 2011
Aug 19, 2011
Currency Exchange Loss:
Feb 15, 2012