Mr. Naranbat, 22 years old, lives with his parents and three siblings in Ulaanbaatar, the capital city of Mongolia. They live in a Mongolian traditional ger (portable felt dwelling) on a plot of land. He has been running an automobile repair workshop since 2012. His father sells wooden crafts to local people and his mother makes dresses at home. His siblings are all underage and stay at home. He is requesting a loan of 2700000 MNT to buy automobile spare parts for his business. This is so that he can run his repair workshop without worrying about inventory shortage.
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.