Mr. Byambanaran runs an auto repair service. He lives with his two daughters and his wife in Kherlen, a boundary town of Mongolia. He has been in this business for six years. During this period he has gained enough experience to stablize his business in the future. His customers always say that Byambanaran is a skilled repairman. This business has been a main income source for his family for the last several years since his wife has been unemployed.
His service equipment has became too old and some of them have been damaged. Therefore he needs a loan to purchase some better equipment to run his auto repair service.
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.