Batsukh, 57, is a skilled blacksmith and craftsman. He makes traditional souvenirs, fret works, small statues and other national crafts. His skill is derived from his father and he was one of the most skilled craftsmen in Mongolia. For 20 years, he has been doing his business and he has gained enough experience and dexterity. He was divorced many years ago, and now lives alone in the ger district (ger is a Mongolian nomadic traditional yurt) in Ulaanbaatar, the capital city of Mongolia. All of his children have already moved out the home. But one of his sons took over his craft skills and he wants to transfer his business to his son.
Now he needs to renovate some of his craft tools and equipment due to age and wear of all of them. He is planning to replace his coal firing stove with an electric stove, which costs very little to use and is harmless to the environment. He uses it to burn and produce raw materials for making his crafts. A stove costs a lot in the Mongolian market. Batsukh thinks it will stop the extremely harmful coal usage if he purchases an electric stove for his business. The loan he is taking will be used to cover the cost of his purchasing an electric stove for his crafts business.
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.
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.