Mr. Batsukh, age 37, runs a clothes-selling business with his wife in the bazaar of Darkhan, the second largest city in Mongolia. He and his wife live with their two children in the suburban district of the city. He has successfully operated his business since 1999.
He is requesting a loan in order to increase his working capital for bigger sales volume. He and his wife realize that is important to raise their business earnings and expand their family income in the future.
The loan he is taking out will be used to purchase a large number of clothes from his supplier so as to expand his inventory and grow his business.
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.