Mrs. Shinebayar is a 26-year-old, and is host of a Vietnam auto-repair service. She lives with her daughter in a rental apartment in Ulaanbaatar, the capital city of Mongolia. When she was a student, she was introduced to, and became friends with, some Vietnam guys. She started her business with the friends initially. Now there are 3 employees working in her auto-repair service.
She has a plan to increase the number of employees in order to expand the business scope. She will hire 2 employees from Vietnam. She needs money for expenses related to visa payments, travel to Mongolia, and their salaries. The loan she is taking will be dedicated to hiring new employees from abroad for her auto-repair service.
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.