Mr. Munkhdorj, 31 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has been supplying equipment to pure water and juice factories for ten years. He imports equipment from China and when the equipment comes to the port city, he collects it and sells it to factories. He doesn't just sell it but also installs equipment at the factory.
Mr. Munkhdorj's wife has gotten her maternity leave and currently she is staying at home. His two children both go to high school. He is requesting a loan of 2,000,000 MNT to import equipment from China that his clients have ordered. The borrower has been doing his business for many years and has accumulated vast amount of experience. Before this job, he worked as an engineer at a pure water and juice factory.
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.