Mr Nyamaa, twenty-seven, is a transportation driver in a private company. He has started his job this year in this company and has been a driver for seven years. Nymaa lives with his son and wife in the Ger district, the nomadic Mongolian traditional tent in Ulaanbaatar, the capital city of Mongolia.
Lately his transportation truck has broken and most of its parts are damaged. He thinks it will influence his business badly. Therefore he is taking a loan to purchase the necessary spare parts for his truck repairs.
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.