Davaasambuu is 49 years old and the father of three children. He lives with his two daughters and wife in Ulaanbaatar, the capital of Mongolia. They live together in a small house on their land. Davaasambuu’s oldest son lives separately from the family and the youngest two daughters attend a university.
For many years, Davaasambuu worked at a contract company as a sanitation truck driver. However, since 2001, he has been running a furniture-making business. His wife works with him. They refurbish old wooden furniture and sell it at Narantuul market, the largest outdoor market in Ulaanbaatar. Over the years, Davaasambuu has gained a great deal of experience and has been able to purchase a house, land, and a small family car.
Davaasambuu is requesting a loan to purchase a 40-ton container to keep his furniture protected from rain and dust. This will be his third loan though Credit Mongol and he is one of their most reliable customers. Davaasambuu is a very hardworking person with a strong will. He is planning to build a wooden house for his daughters.
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.