Mr. Chuluunbaatar, 38-years-old, lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. He has been transporting goods between districts to make a living since 2008. His wife runs a grocery store. Their daughter goes to high school. Recently he has decided to run a new business by buying vegetables from the countryside at lower prices and then later sell them at a higher price. For this cause he is requesting a loan of 2,500,000 MNT to purchase vegetables in large quantities. He will store the purchased vegetables in his basement and sell them in winter, during this time the demand for vegetables increases drastically.
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.