Adiyased, aged 48, is a businessman who runs two businesses together. He lives with his two sons and his wife in a house which is owned by one of his relatives. One of his businesses is as a meat seller at the bazaar and the other one is as a transportation driver using his minivan when he has no sales.
Over many years, he has been saving money from his businesses to purchase necessary land for his private needs. But he is still lacking a little bit of money to cover the land payment. This purchase is absolutely important and a vital thing for his family. Therefore he is taking out a loan to use as additional funding to purchase the necessary land for his family. Before, he has taken out loans twice and repaid both successfully on time.
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.