Batsukh, 58, lives with his family in Darkhan, second largest city in Mongolia. The family resides in their own apartment. His elder son is under a disability grant and his daughter, 27, teaches the Russian language at secondary high school; both he and his wife get retirement benefits. Also, his daughter sells clothes and based on her business experience, he began to sell clothes at retail; sometimes puts the products on other people’s counter temporarily. In future, he wants to purchase his own counter. He is requesting a loan of 2000000 MNT to increase his current assets. As a result, his business will expand, which will have positive effects on regional economic prosperity because medium and small business entities are the cornerstone of microeconomic development.
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.