Mrs. Ariunzaya is 32 years old and she lives with her husband and 2 children in Darkhan, the second largest city of Mongolia. They live in their own flat in the center of Darkhan.
Mrs. Ariunzaya is a teacher of Mathematics in the local secondary school. Her son attends a secondary school and her daughter goes to the local kindergarten. Her husband runs a taxi business, using his family car, carrying passengers between Darkhan and the capital city, which is 220 kilometers away. On average, he makes one trip per day to the capital city, occasionally two. Mrs. Ariunzaya’s father is a former taxi driver and he is unemployed at the moment. Mrs. Ariunzaya wants to buy an another car to use for the taxi business as well. Her father will act as a taxi driver to earn some extra income for the family. Mrs. Ariunzaya is going to use her family’s savings, but needs some money on top of it to buy a car with lower mileage.
The loan that Mrs. Ariunzaya is taking will be used to buy the second hand car and to use it for taxi business employing her father and to increase her family’s income.
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.