Mr.Khosbayar requested a loan to renovate his business equipment. He is 30 years-old and manages a small photo studio near the downtown. He lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia.
Since 2007, he has been running his business constantly. At first, he took a loan from Khas Bank and used it to start his business. At present, his photographic equipment has become old and he needs to replace them immediately because they are the main tools of his job. Therefore, he needs to purchase a new photo camera and other complete sets. He believes that his earning will be notably increased if he can replace his equipment and kits.
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.