Khaidav is 55 years old and lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. They live in ger, a traditional Mongolian nomadic tent.
Khaidav is a monk. He established his own small monastery in 2004 and since then, he has been providing different religious services to his clients. Also he has a few disciples who come to his teachings every day.
Khaidav's only son is mentally ill and needs constant care. Khaidav’s wife looks after and cares for his son. She also runs a home appliance retail business at the outdoor market.
Khaidav’s monastery was built in 2004 and it needs some renovation at the moment. The loan Khaidav is taking will be used to buy the necessary building materials and to do renovation to his monastery.
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.