Mr. Tsolmon, 28 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. He and his wife both have been working as product sorters at a cashmere factory since 2008. Their four-year-old son goes to kindergarten. Tsolmon is now requesting a loan of 2,000,000 MNT to buy fenced land from his neighbor. On this land, he will grow vegetables this next spring. The borrower is a very hardworking individual who strives for 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.