Mr. Altaibaatar is 31 years old and lives with his wife and his daughter in a ger, a traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia. He works as a builder but his salary does not meet with his family's necessities.
His wife Urantsetseg is unemployed currently and looks after her daughter at home. This year their daughter will be attending secondary school. Therefore Altaibaatar and his wife Urantsetseg decided to start a new business of clothes sales in the market during the day time. It is very beneficial to increase his family's income further. According his plan, his wife Urantsetseg will sell casual and traditional nomadic clothes in the market. The loan Altaibaatar is taking will be dedicated to purchasing the commodities for his wife’s new business - clothes 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.