Chagnaadorj is 32 years old and has two children, one of whom attends school. He is a vendor in a private company, which he has been doing for two years. However, his salary is not enough for his family's necessities and expenses, so he is trying to start a new business providing transportation around the city.
Chagnaadorj is requesting a loan to purchase a minivan for his new transportation business. According to this plan, the new business will increase his earnings in the future.
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.