Mr. Boldbaatar is 49 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. His family currently live in rented flat.
Boldbaatar used to travel to the countryside to buy raw cashmere from herders and sell it to cashmere processing factories. In 2010 he bought a cashmere knitting machine and started producing cashmere products such as jumpers, sweaters, hats, scarfs and so on. Currently he employs four workers and besides making products, he also does dry cleaning for cashmere products.
Lately he started renting a stall inside the garment store and to sell his products to buyers directly. These kinds of products are very warm and light and they are in big demand in wintertime in Mongolia.
Boldbaatar is requesting a loan to buy 14 kilos of cashmere thread to supply his production. A bundle of 1 kilo thread costs around 150 USDs.
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.