Mr. Erdenebat, 35, is a transportation driver and lives with his two children and wife in a ger, a traditional Mongolian nomadic tent, in Kherlen town of Dornod, a province of Mongolia. He has been running a transportation business since 2001 and has gained a lot of experience. With the initial business earnings, he bought a small-sized land and a small, old house. But since past few years, his income has been declining due to fewer job orders.
Last summer, he started to rebuild his old house but couldn't finish due to lack of money to buy the building materials, specifically cement, bricks and iron-pipes. His previous house was very old and absolutely in unlivable condition. Erdenebat is trying to finish rebuilding his house before winter starts and hence is asking for a loan to purchase some building materials.
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.