Battur B. is 33 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. Currently they live together with Battur’s parents in his parents' two-bedroom apartment. Battur’s younger brother lives there with his wife too.
Since 2008 Battur has been running a retail clothes business. He rents a place in Altai Center and sells a variety of wool and cashmere hats, scarfs and gloves. Mongolia is famous for its cashmere and wool products and they are in big demand, especially during the wintertime. Battur adopted this business from his mother, who used to work as a salesperson of wool products in a state department store. Normally, he buys his products from the factory’s wholesale points.
Next year, Battur is planning to buy a one-room studio apartment for his family. Therefore he is trying to save some money by increasing his business profit. He is one of our reliable customers. This will be his second loan, and he wants to use it to increase his working capital and buy more products before the winter season.
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.