Batmunkh, 30 years old, lives with his wife and two children in Darkhan, second largest city of Mongolia. In 2011, he purchased a house and yard. His wife is currently unemployed and takes care of her children. Both his children go to kindergarten.
After acquiring the necessary skills of an engineer at the university, he has worked as an electrician at a heat and power plant for seven consecutive years.
On Batmunkh's property, there is one vacant barn and he wants to use it as a grocery store. The area his family lives in has no grocery store and people usually go far to purchase their food. So, operating a grocery store doesn't have the problem of attracting customers and his wife will be self-employed.
In order to run a grocery store, Batmunkh needs a loan of MNT 2,500,000. The money will be used to purchase food stuffs and to renovate the barn. The only income of his family is his salary which can't meet the family's growing demands, so the wise decision of opening a grocery store in his yard is the only way of generating more income. Batmunkh is a very hard-working individual who deeply cares for his wife and two children.
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.