Mr.Erdenebayar is 36 years old and lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian nomadic tent. His children attend a local secondary school. Erdenebayar has been running a tailoring family business since 2004 with the help of his wife. Untill 2008 they used to make fur hats from different animal furs and in 2008 they started making Mongolian national dresses only. They use their home as a workshop. Mongolian national deresses are fashionable nowadays, especially before the national celebrations, weddings and school graduations ceremonies. Not many tailors can make them because it requires special, inherited skills. Mr.Erdenebayar is asking for a loan to buy one more sewing machine and more silk materials to make national dresses for his customers.
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.