Mr. Baljinnyam is 31. He is a driver of minivan which he uses for transportation services in the different districts of Ulaanbaatar, the capital city of Mongolia. He has been doing this business since 2007.
Before starting this business, he used to drive a taxi. He changed his work as it gave him less income. He lives with his family in a ger, a Mongolian traditional nomadic tent which is located in the ger district.
Lately his business income has dropped, mainly because his minivan has damage to its cabin and its parts. The satisfaction of his customers is at the core of his business, and it depends on the quality of his service. Therefore he has decided to make some changes to the cabin of his minivan and to its spare parts.
According his calculations, his earnings and the frequency of his service will increase after the renovation.
The loan he is taking will be dedicated to purchasing new spare parts and to renovating the cabin of his minivan to improve his 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.