Mr. Batnairamdal is 27 years old and lives with his wife and daughter in Kherlen, a city in eastern Mongolia which is about 750 kilometers away from the capital. Since 2005, Batnairamdal has made a living by driving a taxi and is currently his family's sole means of support. His wife is a student and will graduate this summer as an accountant. Their daughter is one year old. Batnairamdal uses his family car in his taxi business but the car is old and needs to be replaced. He plans to sell it and buy a new one, and is applying for a loan to get the additional money he needs to pay for the new 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.