Mr. Otgonbaatar, 35, is a taxi driver. He has been running a taxi for 3 years. He lives with his family in the ger district (a Mongolian traditional nomadic tent district) in Ulaanbaatar, the capital city of Mongolia. Last autumn, he changed his car for a new one to expand his business opportunities. He believes that a good taxi is most important for successful improvement of the business. Currently he has many permanent customers. But lately his car has been damaged too much and some of parts are basically broken. Therefore, he needs a loan to purchase new spare parts for the full renovation of his taxi car.
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.