Mr. Bayaraa, 37 years old, lives with his wife and two sons in Darkhan, the second largest city of Mongolia. He has been working as a sentry at a steel factory since 2013. His wife is a cook and works at a restaurant. Their elder son stays at home due to a disability. The other son goes to high school and will graduate next year.
Bayaraa is requesting a loan of 4,000,000 MNT (Mongolian tugriks) to buy a block machine in order to run a block sales business. There is a growing demand for blocks for construction, and if he can use this opportunity, he can improve his family's living conditions.
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.