Mr. Uuganbyamba, 28 years old, lives with his wife and 3-year-old child in Ulaanbaatar, capital city of Mongolia. The family resides in a rental apartment. He, together with his wife, has been running a barbershop since 2011. The mother-in-law currently looks after his 3-year-old child. His wife has specialized in designer profession. Before opening their barbershop, they had been selling products such as shampoo, conditioner and hair dye.
Mr. Uuganbyamba is requesting a loan of 4,000,000 MNT to purchase necessary equipment such as chairs, poles, towel warmers and sanitizers for opening a new barbershop. Recently, he has rented a place near a trade center and wants to open a branch of his barbershop there. The borrower 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.