Mr.Enkhtur is 42 years old and lives with his wife and four children in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian nomadic tent built on Enkhtur’s elder brother’s land. Enkhtur’s eldest daughter is a student at University and the other children attend secondary school. Enkhtur is planning to buy a plot of land so he needs to save money by increasing his business profit. He used to run a transportation business, carrying people on one of the city’s remote bus routes, but government is pushing out private drivers from public services. Therefore he decided to run a butchering business, relying on his relatives, also butchers, at the meat market where he is already renting a stall. The loan he is taking will be used to stock up on meat products 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.