Mr.Otgonbaatar, 29, runs an inter-city passenger transportation business in Mongolia. He has been doing this for 3 years and already has permanent customers. He carries one passenger for 5 buks from city to city. Otgonbaatar lives with his wife and 4 children in a boundary district of Ulaanbaatar, the capital city of Mongolia.
Recently he bought a small piece of land in a suburban area of Ulaanbaatar with his business earnings. It is located in a good place with a healthy environment.
Now he is planning to build a small house on his new land in the spring of 2012. Therefore, he is starting preparations by purchasing building materials. The loan he is taking will be used to purchase building materials needed to build his family house as soon as possible.
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.