Badamtseren, 35 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. He studied in Turkey from 1999 to 2004 and since 2004 he has been running his own clothes sales business. Beginning in 2010, he has been importing clothes from Turkey and selling them to local people.
In 2013 he rented a restaurant and agreed to pay four months’ rental fees. But due to lack of finances, he couldn’t afford to pay the remaining fee so he is requesting a loan of 4,000,000 MNT. As a result, he can operate his restaurant without worrying about rental fees.
As his businesses stabilize and begin to generate income, he can invest in his son’s education and his family’s well being. Badamtseren is a very hardworking individual who strives for a better future.
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.