Mr. Ganbold is a 49-year-old carpenter. He has been running a furniture making business since 2006. He lives with his wife and only son in Ulaanbaatar, the capital city of Mongolia. His wife works as a chef in a cafeteria.
Ganbold's family lives in a house which he built a few years ago. Ganbold uses his garage as a workshop and he employs two more carpenters. He produces different home furniture such as beds, sofas, wardrobes, shelves, chairs and so on per customer order. His products are in high demand, especially furniture for gers, which are traditional Mongolian nomadic tents. He gets enough orders to complete. He also sells some of his products at Narantuul, the biggest outdoor market in Ulaanbaatar city.
This loan Ganbold is asking for will be used to replenish some of his tools and to stock more materials such as wood, planks, metal sheets, and other necessary things to make furniture.
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.