Thursday, April 23, 2009

Mongolia


I made a Kiva loan today to Gombodorj Dorjnamjaa today, to buy phone cards for his business. That's his wife pictures.

Their business started with 400,000 MNT (approximately $290) of capital. After a few successful years he has become an official distributor of phone cards for all four major domestic operators, and receives exclusive discount wholesale prices. Recently, he added two more domestic operators, G-Mobile and Mongolian Telecom Company. His business capital has increased to 1,500,000 MNT. (Which is about $1000 US.)

Gombodorj hopes to have his own shop to sell his phone cards, instead of renting a small stall at the local market. He requests a loan to purchase more phone cards for his business.

2 comments:

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Joseph said...

I love love love Kiva soo much... what a great idea. I found out about micro lending when I was studying abroad in Europe for a while. I was able to see some of it's effects first hand. Wouldn't that be a dream to meet Muhammad Yunus some day! Excellent work, keep it up!