Sainbuyan is a 23-year-old single man who lives with his mother and brother in Ulaanbaatar, the capital city of Mongolia. His younger brother is a university student and Sainbuyan helps him pay his tuition fees. Sainbuyan’s family rents a 3-hectare plot of land 100 km from the capital city, which they use to plant vegetables such as potatoes, carrots, cabbages, turnips, onions, etc. Sainbuyan uses part of the land to grow his own vegetables. He said that he inherited the skill from his mother. In early spring, he sows the seeds and looks after the growth process during the summer. Sainbuyan’s mother helps him sell the vegetables in the vegetable market in Ulaanbaatar. This year Sainbuyan is planning to increase his harvest and income based on last year's experience. The loan Sainbuyan is requesting will be used to buy more vegetable seeds and organic fertilizers.
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.