Mr. Togtokhsuren, 38, is a taxi driver and runs an ice cream bulk in the supermarket. He lives with his family in Kherlen, a boundary town in Mongolia. He has been running his taxi business since last spring and the other business was started in 2006 and his wife responds to it.
Every month, Togtokhsuren and his wife purchase their groceries, such as ice cream, from Russian and Mongolian food suppliers in Ulaanbaatar. But this time they want to purchase a large amount of ice cream for expanding their sales volume. It is beneficial to their business development in the future. The loan he is taking will be dedicated to purchase the ice cream for increasing the working capital.
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.