Mr. Natsagdorj, 46, lives with his wife in Ulaanbaatar, the capital city of Mongolia. The family resides in their own apartment. Their daughter has been studying at university for two years in Korea. The family's main income comes from a food store and internet café; both businesses were started in 2010. Operational apartments are rented for long term and therefore business is stabilized over the years.
In order to expand his business, he is requesting a loan of 4,000,000 Tugriks (MNT) to increase the current assets of his business. As a result, he can generate more income for his family also can contribute to national economic prosperity because small and medium sized businesses are vital to economic development. In addition, the borrower has a goal of building his own block factory in the future.
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.