A loan of $1,300 helped to purchase an old russian automobile.

Bayarsaikhan's story

Mr. Bayarsaikhan, 55 years old, lives with his wife in Ulaanbaatar, the capital city of Mongolia. His son got married and now lives separately from his parents. He and his wife reside in their own house on a plot of land.

Since 1998, he has been running his spare parts sales business, and his wife assists him. He purchases old automobile spare parts in large quantities from Russia. Using the spare parts, he repairs old Russian automobiles which have deteriorated over the years. Then he sells those repaired automobiles to customers at higher prices. In general, Russian spare parts are expensive and that's why running an old spare parts sales business is profitable for him.

The borrower Bayarsaikhan once received a loan from our organization and paid every installment on the established schedule. This time he is requesting a loan of 1,800,000 MNT to purchase an old russian automobile in order to repair it with his spare parts and later sell it at a higher price. As a result, he can generate more income for his family. He is a very hardworking individual who strives for better future.

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Loan details