Mr. Bayanmongol, 32 years old, lives with his sister, brother and brother-in-law, in the capital city of Mongolia, Ulaanbaatar. He has been making, repairing and dealing in jewelry for three years, and he has accumulated a vast amount of experience in this field. His sister teaches at a kindergarten, and his brother-in-law renders taxi service to local people for a living.
Bayanmongol is requesting a loan of 3,000,000 MNT. He will use this amount to purchase silver and other raw materials that he needs for making jewelry. As a result of the loan, he will be able to continue to make and sell jewelry without worrying about a raw materials shortage. 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.