Mr. Odbayar, 26, is a taxi driver and runs his taxi business around the districts of Ulaanbaatar, the capital city of Mongolia. He has been doing the taxi service for 6 years and it is his main income source. Lately, his car has started to have some breaks and is becoming dangerous to serve the customers. Therefore he needs to change some parts and some sections. It will be good for his business earnings if he could make repairs before this winter.
The loan Odbayar is requesting will be used to purchase some new spare-parts for his taxi car and make a repairs to it.
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.