Mr. Otgonshagai is 29 years old, single and lives with his friend. They have a business of installing transforming stations by tender. Sometimes it runs successfully and sometimes not, and business is interrupted for months when they have no job orders. Also it depends on some seasonal reasons, because summertime job orders are raised notably.
Now they need to renovate some of their equipment for a job. It is very important for their job performance in the future. The loan he is taking will be dedicated to purchase the some new equipment for 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.