Mr. Chinzorig, 56, is a very neat and hardworking man. He runs a cafeteria in the downtown of Ulaanbaatar, the capital city of Mongolia. He has been running his business for 2 years and during this time he has had many permanent customers. He lives with his wife, 46, and his son, 16, in the ger district, an area of the city with no running water, minimal roads and spotty electricity in Ulaanbaatar.
Now he needs some money to make renovations and some repairs to his cafeteria hall. In the last years it never had any complete repair. The floor and some furniture have been bad and got old. Therefore he is requesting a loan to buy some building materials and cover the cost of hired workers. He had a plan of renovation before, but he could not do it due to the money shortage many times.
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.