Batkhuu, 46 years old, lives with his wife and two sons in Ulaanbaatar, the capital city of Mongolia. The family resides in a traditional Mongolian ger (portable felt dwelling) next to their own grocery store. His elder son studies at university while his younger son goes to high school. He has a leg disability and uses crutches. Due to his disability, he gets a pension from the state and his wife executes the role of caretaker. In 2012, he rented a counter at an outdoor market and began selling additives such as ketchup, mayonnaise,pepper, garlic, onion and curry. The family also owns one complete and one unfinished house on their plot of land. Besides his additive selling business, he also makes construction blocks from April to November and sells them to customers and has operated this business for two years. He is requesting a loan of 1,000,000 MNT to increase his circulating assets by purchasing various types of additives. As a result, he can generate more income for his family. The borrower is a very hardworking individual who strives to see his sons have a better life.
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.