Ankhbayar is 43 year old and lives with his wife and four children. He works at Military Force as a guard in Dornod, a province of Mongolia. His oldest son is working as well and helping their parents.
They live all together in a small house which is in quite bad condition. His wife rents a place to sell meat. She has been doing this business for 8 years. Currently there is a need to increase the working capital of his wife's business as it is important for expanding the business in the future. And he has a plan to make adjustments to his house because it has been becoming quite old and uncomfortable to live in. Therefore, Ankhbayar is requesting a loan to purchase a large amount of meat from wholesalers for his wife’s business and also to repair their old house.
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.