Mr Bayarsaikhan is 38 years old lives with his wife and three kids in a ger, a traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia. Two of his children attend a secondary school and one goes to kindergarten. Bayarsaikhan is a chemist-biologist and used to work in a chemical laboratory until 1990 when he was injured and had to leave the job. Since then he is running a transportation business. He owns a minivan and carries people on one of the remote bus lines in Ulaanbaatar City.
His wife Oyungerel works with him as a cashier. Two years ago they obtained a right to own a piece of land and have done a lot of ground work there because the land was sloping. Their plan in the future is to build a house on it. They are very hardworking and nice people. Every few years they have to renew the van to keep the license for carrying people, because of transportation authorities safety requirements. This summer he has changed his minivan to newer one. He already paid most of the money, but still owes 1,500,000 MNT to the seller. The reason he is asking for this loans is to pay the rest of the money for his minivan. After that he will be able to register the minivan on his name and to continue his business.
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.