Mr. Khosbayar, 41 years old, lives with his wife in Ulaanbaatar, the capital city of Mongolia. He has been selling and installing electric heaters for a living since 2006. His business is environmentally friendly, so the government supports his efforts and imposes a low level of taxation.
Mr. Khosbayar is requesting a loan of 2250 USD to import extra heaters from Korea in order to continue to sell his goods without worrying about shortage. This kind of heater has ample demand and it is installed under floors, heating the home from the bottom.
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.