Zayabayar, 31, is a taxi driver who tries to work hard. He lives with his wife and three children in a his boss’s rental house in Ulaanbaatar, the capital city of Mongolia. Before, he used to do passenger transportation and changed his business into taxi service recently. Besides that, he runs a phone-repair service in the morning.
He is one of fathers who wants to get a good education for their children. Now his son, Khongorjin, studies in a private Chinese language school and the fees are quite high. Therefore, he needs a loan to cover the school fee of his son. It is a actually important to him and his son’s future life.
And Zayabazar has a plan to buy his own apartment where his family can live comfortably, and he has started saving from his daily earnings for his plan. But his taxi car, which is the main tool of his business, has had some defects lately. Therefore, he needs to renovate his car and is taking a loan to purchase the necessary spare parts for car repair as well as for his son’s school fee.
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.