Lkhagvadorj, 43, a carpenter since 2006 with a steadily increasing clientele, resides with his wife and four children in the slum district of Erdenet, Mongolia's third largest city. Because of the increasing volume of his business, Lkhagvadorj wants to make some renovations to his workshop and purchase some new tools to better meet his customers' needs. His loan will be used for these purposes.
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.