Bekhbayar is 37 years old and lives with his wife and three children in Ulaanbaatar, the capital of Mongolia. They all live together in a ger (a traditional Mongolian nomadic tent) on his brother-in-law’s plot of land. His two eldest children attend a local secondary school and the youngest daughter is just one year old and stays at home with his wife. Bekhbayar has been operating a taxi business in the city for the last one and a half years. He is an energetic and enthusiastic person who says, “I would like to be financially able to provide a good education and cover other expenses for my children.” The loan that he is asking for is to increase his working capital to buy some spare parts for his car.
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.