Mr. Myagmarsuren, 54 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. His son studies at a technical college, and his daughter goes to high school. He and his family came to Ulaanbaatar five years ago in order to improve their standard of living. They immediately began their business selling Mongolian traditional gers (portable felt dwellings) after settling in Ulaanbaatar. He is applying for a loan of 3,000,000 MNT to buy raw materials, such as planks and felts. Using these materials, he can continue to make Mongolian traditional gers without worrying about shortages of raw materials. 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.