Mr. BatK. is 22 years old and lives with his wife and two children in a ger, or traditional Mongolian tent in Ulaanbaatar, the capital of Mongolia. Since 2008, he has earned a living by driving a taxi, but his vehicle is in poor condition and limits his ability to earn enough money to support his family. He is applying for this loan to repair his taxi so that he can earn additional income.
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.