Mr. Bayarbat, 27 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He and his wife have been selling furniture to local people since 2008. He brings furniture from China at a relatively low price and later sells them to local people at reasonable price. Also when households replace their old furniture, he buys, fixes them and later sells them for profit.
Mr. Bayarbat is now he requesting a loan of 2,400,000 MNT to buy furniture such as closets, drawers, sofas and tables from China. Just before White Moon, a Mongolian national holiday, demand for furniture and other goods increases, thus opening great opportunities for his business. 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.