Mr.Ulambayar is 26 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. He lives in the extension of his parent's house which he built two years ago. His wife looks after her baby at the moment. Ulambayar runs a taxi business using his family car. The car, which he bought two years ago, has gotten old and needs replacing. The taxi business is the family’s only source of income. Ulambayar is asking for a loan to replace his old family car which he uses in his taxi business. He is going to sell the old car and to buy better second hand 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.