Mr. Erdenebayar, 40 years old, lives with his wife and two daughters in Ulaanbaatar, the capital city of Mongolia. His family has been living in a house on his friend's plot of land for about eight years. His two daughters go to high school. He has been making and selling putty to the local people for a living. His wife works as a water distributor. He purchases all of his raw materials from a China border city and usually brings materials in large quantities. During this time of year, demand increases drastically so he is requesting a loan of 3,000,000 MNT to purchase putty ingredients. As a result, he can continue to make and sell his putty without worrying about inventory shortage.
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.