Mr. Enkhbaatar, 32 is a skillful hairdresser and has been doing this job for 8 years. He lives with his wife in a ger, a traditional Mongolian nomadic tent, located in the slum district of Ulaanbaatar, the capital city of Mongolia. He will become a father soon and will be responsible for his family.
He plans to expand his business by opening new locations around the districts of Ulaanbaatar.
Last April, Enkhbaatar bought a small-sized plot of land near his barbershop which is necessary for his job and family. Then, he started building a branch of his barber shop as well as his own house. Unfortunately, the project suddenly stopped due to lack of money for building materials. Opening the new branch of his barber shop is very important to expanding in the market and his business future. Therefore, he is requesting a loan to purchase the necessary building materials to open the new location for his barber shop 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.