Sainkhuu is 31 years old. He lives with his wife and parents-in-law in Ulaanbaatar, the capital city of Mongolia. He and his wife are a newly wed couple and currently they don’t have their own house.
Sainkhuu has been running a farming business since 1996 by growing vegetables such as carrots, potatoes, cabbages and onions. He is an experienced farmer.
He used to rent a van to deliver his products to the market, but recently, he bought a minivan. Now he uses his minivan to transport his own vegetables to market and he transports other farmers' vegetables to market as well.
The loan he is taking will be partly used to invest in his farming business and partly to build a garage for his minivan.
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.