Munkhzul is 40 years old and lives with his family in a rental house, in Ulaanbaatar, the capital city of Mongolia. Munkhzul has two sons, ages 17 & 13 who are studying in a secondary school. Munkhzul has been selling spare parts of machines since 2011. His business is going well. His wife doesn’t have a job, so he is the one who brings income for his family. So many problems are waiting for him to solve them like owning a house, paying tuition fees for his boys and expanding his business.
He usually sells spare parts of light cars. In the developing mining sector of Mongolia, construction work is flourishing in every corner of the city and heavy lorries interlace through the city by carrying heavy loads. With hopes that“big money will give high yield”, he is planning to sell spare part of heavy lorries because they are much more expensive than light cars. So, Munkhzul is requesting 4,000,000 MNT to raise his current assets and to buy spare parts of heavy lorries to raise his income.
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.