Batjargal is 38 years old and lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He and his family live together in a rental apartment. His oldest daughter, Anuujin, is 13 years old and attends high school. His 6-year-old son, Hishigten, attends a kindergarten.
Batjargal manufactures Mongolian traditional souvenirs to sell to his many customers and his profit is very high, especially during the summer, between June and October. He started his business in 2000 with working capital of 500,000 tugrugs (~357 USD). After years of successful operations, he has managed to increase his working capital to a level exceeding 10,000,000 tugrugs (~7,140 USD) today.
His family is the most important thing for him and he says, “As a father, I would like to be financially available to provide a good education and other necessary expenses for my children until they grow up, and also I would like to expand my business and to purchase my own apartment for my family in the future." He is requesting a loan to purchase more materials for his business.
About Credit Mongol:
Credit Mongol’s mission is to contribute to the prosperity of Mongols by providing diversified financial services to micro and SME clients and to become the best performing company in micro and SME financing in Mongolia.
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.