Mr. Jamiyan, age 29, sells electronics in a supermarket called “Bumbugur,” and he lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. He has been in this business since 2000 and has gained enough experience in his business field. He usually obtains his inventory from a certified Japanese electronics distributor. Lately, his business income has decreased notably due to a deficiency of inventory. During the last two months, he has sold almost 85-90% of his inventory. There will be a lack of inventory to sell next month. Therefore, he should increase his working capital immediately. The loan he is taking will be used to purchase a larger number of electronics to increase the inventory for more sales.
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.