Baasansuren A. is 40 years old and lives with his wife and only daughter in Ulaanbaatar, the capital city of Mongolia. They live in a house that they bought on mortgage. His daughter studies in secondary school and his wife, Oyungerel, 34, helps in her husband’s business.
Baasansuren is an artist. He makes different things like bags, purses, hats, paintings and souvenirs from colored sheep wool. He has been doing this for eight years. He makes items to order and also sells them in souvenir shops. His products are in good demand during tourist seasons.
He is asking for a loan to buy sheep wool and paints to make beautiful souvenirs to sell.
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.