Mr. Batbayar, 33 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. Batbayar’s wife is looking after her baby at the moment. Batbayar works two jobs. He works in a tire repair garage as a mechanic and he transports people around the city in his taxi. He has been running a taxi since 2005.
Mr. Batbayar's family lives in ger, a traditional Mongolian nomadic tent. The ger is now very old and needs to be replaced. The ger has a wooden frame construction and is covered with sheep wool felt. The loan Mr. Batbayar is taking will be used to buy a new ger for his family. A small part of the loan will be used to service 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.