Bayar N. is 44 years old and lives with his wife and two children in Ulaanbaatar, Mongolia. He and his family live together in a relative’s ger, the Mongolian nomadic tent. His younger daughter Munkhzul is 17 years old and attends a secondary school. His wife Sarantuya is a builder, decorator. His son Azzaya is 26 years old and he works as a security guard.
Bayar operates a trucking business with his truck, which has a capacity of two tons. He is a very hard-working person and his business is very important to him.
Bayar says, “As a father, I would like to be financially available to provide a good education and other necessary expenses for my children until they grow up. Also, I would like to expand my business and to purchase my own apartment for my family in the future.”
He is requesting a loan to change his old truck.
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.