A loan of $4,825 helped to purchase 24 bicycles to start up his bicycle rental service business.


Purevdorj's story

Mr. Purevdorj is 26 years old and lives with his parents and two siblings in their house in suburban area of Ulaanbaatar city. He created the idea of a bicycle sales and rental service when he was in China studying for his Bachelor's degree. He sold five bicycles in someone else's retail store when he was a student. He is now starting his own business and now requesting a loan of 8,500,000 MNT to purchase 24 bicycles for starting his bicycle rental service business. He has done some research and found out that there is potential demand in the market and it could become a profitable business. Purevdorj is an open-minded, friendly, hardworking, and thoughtful young man who always looks for ideas to grow into a business and support his family. His parents are retired and his younger sister has given birth to a baby so the family expenses increased recently. Purevdorj is one of the YBM business plan competition finalists and delivered training and technical support from Development Solutions, a local NGO which is now piloting the "Youth Business Mongolia" project to support young entrepreneurs' ideas. His favorite phrase is "Your time will surely come. But until that time comes, prepare yourself every day…"



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