Mr. Batmunkh is 46 and lives with his daughter and wife in their own house in Ulaanbaatar, the capital city of Mongolia. He runs dual businesses; one is a taxi service and one is a host of second hand raw materials sale point. He started his businesses last year and he has been trying to build his businesses.
Recently his taxi car has become very old and damaged. So he needs to make a repair and change the parts of his car because this business is his main income source. The loan he is taking will be dedicated to purchase new spare parts for his 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.