Mr. Khurlee lives with his wife and his son in a ger, the traditional Mongolian nomadic tent. He has been running a taxi since 2007 around the districts of Ulaanbaatar, the capital city of Mongolia. He has gained experience in his business and already has many permanent customers who he often serves.
Khurlee is requesting a loan to cover the cost of purchasing a car for his taxi business. He needs to renew his car for a better one because his current car is getting old and becoming inadequate for taxi service – possibly giving a negative impression to his passengers. Therefore, he has decided to replace his car in order to improve his business.
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.