Mr. Ganchanga, 46 years old, lives with his wife and five children in Ulaanbaatar, the capital city of Mongolia. His elder son has graduated from his university, specialized in electricity, and is currently staying at home, looking for a job. Ganchanga's eldest daughter studies at an agricultural university, and his other three children go to high school. He and his wife raise livestock and currently have 25 cattle.
Ganchanga is requesting a loan of 4,000,000 MNT, which he will use to purchase three more cows for dairy purposes. Because during this period of time, the price of milk increases greatly, buying additional cows will help him to generate more income for his family. In the near future, his younger three children will study at the university, and he needs to pay their tuition and fees. The borrower is a very hard-working 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.