Mr. Erdenebat is 50 years old.. He is a taxi driver in the city of Ulaanbaatar. He has a son and daughter. He has been running a taxi service since 2002 and his daily income is not enough for his life. In this year, his son Khishigbaatar is going to marry and will be living separately. So his parents want to give him a wedding gift like a ger, a Mongolian traditional nomadic tent. He will use it as a house. It’s a very important to start a new family life. Therefore, Erdenebat is taking a loan to purchase one new ger for his son’s wedding.
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.