Mr. Batbayar is 30 years old. He lives with his wife and two children, ages 12 and 1, in Ulaanbaatar, the capital city of Mongolia. His wife looks after the baby at the moment. Until 2008, Batbayar worked in a textile factory, but he left due to job cuts. Since then, he has been running a taxi business using the family car, and it is his family's only source of income. Since the birth of their second child, the family’s finances have become tight. Batbayar's wife used to run a clothing retail business before the birth, and now she is planning to restore her business. Luckily, Batbayar’s parents have agreed to look after the baby during the day. Mr. Batbayar is asking for a loan to buy the clothes necessary to reopen his wife’s clothes-selling 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.