Mr. Gantumur is 35 years old and lives with his brother in Ulaanbaatar, the capital city of Mongolia. He has been making and selling dumplings since last year. He hires six workers and together they produce 100 kilograms of dumplings per day. In the summer, the orders for dumplings by retailers increases drastically, so he wants to increase output by 50 more kilograms. For this purpose, he is requesting a loan of 4,000,000 MNT to purchase an additional fridge and raw materials such as meat and flour. He delivers the orders of retailers by using his truck that accommodates fridges and dumplings. Before this dumpling business, he had been growing vegetables in countryside, and in the autumn he sold his harvest to vendors at market. His brother graduated this year and is currently seeking a job related to the human resources field. The borrower is a very hardworking person who has taken care of his brother.
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.