Mr. Amgalanbaatar, 43 years old, lives with his wife and three children in Ulaanbaatar, the capital of Mongolia. He has been making roofs on the orders from entities and individuals since 2002. His wife has been running grocery store until now, but due to its inefficient operation, she has decided to sell a single product, sausage. For this purpose, he is requesting a loan of 2,000 USD to buy sausage in large amounts at wholesale prices. His wife believes selling sausages is more profitable than that of wide variety of foodstuffs. If this new business of his wife succeeds, it will contribute to the family income, and improve their living standard.
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.