Mr. Erdenebat, 43, is a taxi driver in Ulaanbaatar, the capital city of Mongolia. He has been driving for a year and already has had many customers. He lives with his wife and his 4 children in a common apartment.
Last autumn, Mr. Erdenebat started his second business as a shoe retailer in the supermarket. On average, he sells 3 or 4 pairs of shoes in a day. He believes it will be a main part of his family income. Now he needs some money to purchase the large numbers of shoes from his supplier to increase his working capital. Then he could raise his sales volume after a month according to his business plan.
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.