Mr. Nyamjav, 24 years old, lives with his mother and two brothers in Ulaanbaatar, capital city of Mongolia. The brothers have specialized in the construction field and in summertime they render house repair services to local people.
Since 2012, Mr. Nyamjav has been renting a basement at an apartment and operating billiard and table tennis games there. He is requesting a loan of 550,000 MNT to pay three months' rental fee in advance. As a result, he can operate his business without worrying about the rental fee. Even though he has just run this business for one year, he has already accumulated a vast amount of experience in this field. Day by day, his income is increasing and the family’s living standard is improving. The borrower is a very hardworking individual who wants his mother to live happily.
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.