Mr.Bayanmunkh is 26 years old and lives with his wife and daughter in Ulaanbaatar, the capital city of Mongolia. His daughter goes to kindergarten. In 2009, Bayanmunkh successfully completed a bus driver course and now he works as a bus driver for a bus transport company. Between 2006 and 2009 he used to work as a ticket collector for the same company. His wife works as a ticket collector at the moment. They own a plot of land and have a small wooden house on it. Next year they are planning to make renovations and add an extension to the house. Therefore, they are trying to increase their savings. In his spare time, Bayanmunkh operates a taxi business using his old family car to earn extra money. He wants to use this loan to replace his old car with a newer one to use as a taxi.
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.