Erdenebat is 36 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. They all live together in their own house. His daugther, Munkhchuluun, is 14 years old and attends a local secondary school. His younger daughter, Munkhchimeg, is three years old and attends kindergarten. During the day, Erdenebat’s wife, Tsogzol, operates a trading business at a local market called Narantuul. She operates a retail business and purchases a variety of products from Ereen, a Chinese border city, and resells them for a profit. She started her business in 2000 with working capital of 500,000 tugrugs ( about $362). After years of successful operations, she has managed to increase her working capital to a level exceeding 2,000,000 tugrugs (about $1,445) today. Erdenebat operates a transportation business in his local area. Erdenebat is now requesting a loan for his wife's business to purchase a variety of products in Ereen, a Chinese border town, to resell for a profit.
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.