Mr. Ochirpurev, 33, owns a mini truck and transports wood between markets in Ulaanbaatar, the capital city of Mongolia. He has been running his business for over six years and already has had some permanent partners.
He wants to expand his business through starting in wood sales. As he said, he needs to purchase large amounts of wood from the suppliers in the market for building the working capital.
Ochirpurev is requesting a $2,900 loan; $2,000 will be spent to purchase the wood and the remaining $900 will be dedicated to making renovations to his transportation truck.
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.