Mr. Munkhbaatar is 35 years old and lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. They live in their own small family house which was built a few years ago. Munkhbaatar’s three kids attend a local secondary school. His wife rents a small cafeteria in a crowded area of the city and runs it successfully. Munkhbaatar runs a taxi business using his family car to bring extra income to the family. He also delivers goods to his wife’s cafeteria before it opens.
Munkhbaatar is planning to build an extension to his house and is requesting a loan to buy necessary building materials. He will add an extra room for his kids because his family is growing and at the moment space is very tight.
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.