Mr. Khurelbagana, 35 years old, lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. He has been running a shoe sales business for two years by renting a stall at a trade center. His wife is pregnant and stays at home looking after their third child. Their other two children go to high school.
Before the shoe selling business, he and his wife had been working in Korea on an employment contract between Mongolia and Korea. When they came back to Mongolia after their contract expired, they came with a large amount of casual clothes and shoes to begin their business. Now their business is prospering each passing day, and they have rented two more stalls at other trade centers.
He is requesting a loan of 4,200,000 MNT to purchase shoes in large amounts from Korea in order to increase his working capital. As a result, he can continue to run his business without worrying about inventory shortage. The borrower is a very hardworking individual who greatly cares for his family.
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.