Ganbaatar, aged 47, lives in Darkhan city, the second largest city in Mongolia with his wife and four children in a ger, a Mongolian nomadic tent. His older daughter has a job, but she could not get a higher education until now and the other children are pupils in secondary school.
Ganbaatar became a repairman in a private company this year. He also has three milk-cows for his house usage and sales to citizens of Darkhan city. Currently this is a major source of income for his family. His family moved to this city from another region in 2002 and they lived in a rental house at first. After that he was able to buy his own small-sized piece of land by saving some money from the productivity of his milk cows.
Now he needs to have one more milk cow with a calf to raise the sale supply to increase his family income. The loan he is taking will be dedicated to buying one milk cow with calf to increase his family 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.