Mr. Erdenebold is 29 years old and lives with his wife and her daughter in Ulaanbaatar, the capital city of Mongolia. He has been running a taxi business for six years around the city districts and already has many permanent customers.
His car is becoming old and some of its parts are damaged. Therefore he needs to renovate his car immediately. This will have a positive influence on his future business.
The loan he is taking will be dedicated to purchasing the spare parts he needs to rennovate his taxi.
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.