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Otgonbayar is 49 years old and lives with her husband and two sons in Ulaanbaatar, the capital city of Mongolia. One of her two sons is a student and the other one is a pupil in secondary school. Otgonbayar is a pharmacist and has been managing a pharmacy since 2009. She employs two druggists who work in shifts. At first, she has opened her pharmacy with the money from purchasing her house, which was very difficult for her. She has a plan to expand her business by opening a pharmacy branch near the downtown area. It is very beneficial and important to her business.

Recently, her short-term plan is to increase her pharmacy assets. Therefore, she is taking a loan to purchase and resell drugs in her pharmacy from registered suppliers to raise her current assets.

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
  • 1,235.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Otgonbayar to purchase and resell drugs in her pharmacy from registered suppliers to raise her business output.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2011
Aug 31, 2011
Currency Exchange Loss:
Nov 15, 2012