Mr. Zoljargal, 34 and an IT engineer, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. Currently he is starting a new business of potato chip making and selling in cooperation with his brother. His brother has a good experience in this business. They need to have a Grace Marks mini-van for product distribution to shops or stores. Car price is between USD4500-5500 on an average. So they need financial support to buy it.
Starting a new business is very important to improve his family's quality of life. Zoljargal is taking out a loan to aggregate the car payment for his new business.
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.