Mr. Zolbayar is 28 years old and works as a technician in the power plant of Ulaanbaatar, the capital city of Mongolia. He has been working as a technician for six years. He is a young father and lives with his family in a house located in the industrial district of Ulaanbaatar. Mr. Zolbayar and his family have been living in this house since he was a child. Lately his house has became very old and much of it is damaged. Therefore he is planning to make some repairs and renovate his house by himself before this winter. He needs MNT 600,000 to purchase the building materials according to his calculations. The loan Zolbayar is taking will be used to purchase the necessary building materials to renovate his house.
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.