Mr. Chuluunbaatar is 41 years old and lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. He owns a plot of land and a house on it. His eldest daughter works as a salesperson and the youngest one is studying Law at the University. His wife Uranchimeg works as a cleaner in a sock-making textile factory. Chuluunbaatar works in a construction company as a plasterer.
His family used to run a recycling business, collecting different recyclable materials like glasses, soft drink cans, metal and plastics, and then selling them to waste recycling companies for money. Now his children are grown up and everyone in the family is employed, so he decided to change the business profile.
His eldest daughter had been working for a retail shop as a salesperson for a few years, and gathered quite a good knowledge about retail business. So she decided to run a clothes selling retail business on her own, and she needs some starting capital. He is supporting his daughter's idea, and he is asking for a loan to invest in his daughter's business. She has completed her business plan and at the moment she is looking for a suitable place to rent.
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.