Mr. Ganbold, 29, sells sliver articles in the market. He lives with his wife in a rental apartment which is in Ulaanbaatar, the capital city of Mongolia. He has been running his business since 2010. Previously, his sister used to run this business. Mr. Ganbold received his business from her. In few days, students will celebrate their school graduations. During that time, his sales volume increases notably and thus, the business earnings. It is a good opportunity to expand his business sales. Now he needs to purchase more silver articles from his suppliers. The loan he is taking will be dedicated to increase his sales commodities.
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.