Mrs. Tuya, age 44, is a teacher. She has been working in this position for 25 years. She has two sons and two daughters. But now she lives only with her elder daughter in the Kherlen, a remote town of Mongolia. One of her sons runs his own business selling seabuckthorn juice. Lately his business has been running successfully and he has expanded his sales into the nearby towns or provinces. He needs a minivan for distribution and conveyance. Actually he started saving a year ago to buy his minivan, but there is a lack of money. He needs MNT 2100000 to reach the cost. Therefore, his lovely mother, Tuya, is requesting a loan to support her son to buy a minivan for this essential business necessity.
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.