Mr.Sereebaatar, 37, is divorced and lives with his 11 year old son, his mother and his younger brother and sister in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian nomadic tent in the ger district of the city.
Since 2000, Sereebaatar has been running a transportation business using his family minivan. He has permission to carry passengers on one of the city’s remote bus lanes which lacks bus services. In his family he is the only bread winner. His younger brother works casually at a construction site as a laborer.
Sereebaatar is planning to buy a small family car and to use it as a taxi. His younger brother has a driving license and he wants his brother to drive the taxi to generate extra income for the family. The loan Sereebaatar is taking will be used to buy this 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.