Batsaikhan, 47 years old, lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. The family resides in a house on a plot of land. His wife runs her own tailoring business. His daughters go to high school and the elder one will graduate this summer. Since 1997, he has been selling sub products such as sheep intestine, legs and head and providing a taxi service to local people. In January 2012 he purchased a Hyundai Porter, a light truck, which he uses to transport livestock to the sausage factory. The stock available for his business decreased drastically due to the purchase of the light truck. He is requesting a loan of 2000000 MNT to purchase large amounts of stock for his business. As a result, he can get out of a troublesome situation and generate more income for his family. The borrower is a very hardworking individual who is gregarious and ambitious. In the future, he has a goal of accumulating a considerable amount of money to expand his house and invest in his daughters’ education.
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.