Mr. Nanjii, 55, is a carpenter and makes Mongolian traditional furniture for his neighbors and his permanent customers. He has been running his business for 20 years and lives with his wife. All of his children have moved out.
Now he needs money to increase his business working capital. It is important for the persistent running of his business. The loan he is taking will be used to purchase raw materials for carpentry.
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.