Mr. Myagmardagva, 49 runs a freight transportation business around Ulaanbaatar, the capital city of Mongolia. Since 2004, he has been running his business, and he usually carries construction materials between two points. Currently, he lives with his wife on his plot of land. All his children moved out of their parent’s house.
He wanted to renovate his old house to run a grocery store in the roof hollow space. He thinks that this business will increase the income of his family and improve their living conditions in the future. Now he needs a loan to buy the building materials to renovate his roof hollow for opening the grocery store.
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.