Mr. Ulziitogtokh, 25, works in a construction material supply company as a team head. He has been doing his job for over two years. But he still could not earn the money needed for his family's expenses. He lives with his wife and his two children in a ger, a Mongolian nomadic tent, in the slum district of Ulaanbaatar, the capital city of Mongolia. For this reason, he decided to start a new business beyond his job. It will be a small auto repair service with garage capacity for five cars. He said that each car will pay him USD 5-10 in a day. It is quite enough for him and his family currently. Now he needs a loan to purchase the building materials to build his workshop for the new business. In addition, he very much believes in his business plan.
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.