Mr. Jargalsaikhan, 32 years old, lives with his wife and three children in Ulaanbaatar, the capital of Mongolia. They live in a ger, a Mongolian traditional nomadic tent. In 2005, he started a taxi business using a car which he bought with a loan from KIVA. This is his fifth loan through Credit Mongol. He has gained a lot of experience over the years. Two of his children attend a local secondary school and the third goes to kindergarten. His wife operates a diner near by his home. Jargalsaikhan is a very busy person who says: "as a father I would like to be financially able to provide a good education and other necessary expenses for my children." He is requesting a 1.500.000 MNT loan to purchase construction materials to build a garage in his yard.
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.