Mr. Batbaatar, 24, sells clothes with his wife. They have been operating their business for last 3 years and own 3 stalls. Batbaatar is a very hardworking and fair young man, as his coworkers identified him. Currently he lives with his wife and his parents in the ger district, a Mongolian traditional nomadic yurts district in Ulaanbaatar, the capital city of Mongolia. In summer and autumn, he has big sales of clothes for women, men and kids. Lately, his stock has been decreased and he wanted to increase it before this autumn. It is a very good chance to enlarge his sales volume and earn extra profits. The loan he is taking will be dedicated to buy casual clothes to increase his working capital. In addition, he has a plan to have a baby in the next year.
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.