Tsendjargal runs a shoe retail business in the Narantuul, the biggest outdoor market in Ulaanbaatar. He works all year round and it is very hard to stay outdoors all day long, especially in the winter, because the average winter day temperature is minus 25 degrees Celsius. He has been running this business for 5 years has gained a lot of experience in the shoe sale market. Tsendjargal is planning to expand his business by enlarging his stall and increasing his working capital. Therefore, he needs to rent one more neighboring stall and to fill it with shoe products. He will use this loan to buy more summer shoes to increase his inventory and to pay for his first stall rental payment.
About Credit MongolCredit 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.
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