Mr. Amarsanaa, 41 years old, lives with his son and daughter in Ulaanbaatar, capital city of Mongolia. He has been selling a wide variety of souvenirs since 2005 and accumulated a vast amount of experience in souvenir sales. Before running his business, he, together with his brothers, had worked at a framing factory and learned necessary skills used for framing. His son is unemployed and currently stays at home while his daughter goes to secondary school. His wife works in the United States of America on an employment contract. He is requesting a loan of 1,500,000 MNT to purchase picture framing equipment. Using this equipment, he can save more time than using his hand tools. The borrower is a very hardworking individual who greatly cares for his children's 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.