A MED (Micro-Enterprise Development) Testimony

In early 2005 Zulaa, his wife, Erdentuya, and their three children, were struggling to make ends meet. Zulaa was a tailor, experienced at making gloves, but without sufficient capital to invest in his business his profits were limited and their family expenses frequently exceeded their income.

In 2005 Zulaa attended a business training run by Genesis-AOM, prepared a feasible business plan, and was granted a loan of 500 000 tugrug (US$­­­­420) to purchase new raw materials and thereby increase his range of stock. His profits rapidly escalated and he was able to repay the loan, continue to invest in his business and purchase a fridge and vacuum cleaner for his home.

Zulaa is grateful for the hand-up he received from Genesis-AOM. Through this assistance he has been able to move away from a hand-to-mouth existence and place his family’s future on a more secure financial footing. His next plan is to expand further and begin to employ others in his business.