Mr. Nanjiddash is a 31 year-old truck driver. He lives with his wife and 2 children in Ulaanbaatar, the capital city of Mongolia. His son attends a school and his daughter goes to kindergarten. His wife is unemployed at the moment, and she looks after the kids. They live in a ger, a traditional Mongolian nomadic tent.
Nanjiddash owns a small truck and uses it for his delivery business, which is family’s only source of income. He has been running this business for 6 years and he works 6 days a week from 8:00 till 21:00. He used to transport coal from the train station to households, but now he has changed the profile and he delivers his clients' goods and products from warehouses to a market site. He says its more profitable than carrying coal. He needs to remodel his truck to accommodate it for delivery of goods. The loan will be used to buy spare parts such as new tires, engine parts, and a new loader and to properly service his truck.
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.