Mr. Enkhsaikhan, 38 is a taxi driver and has been running his business for 6 years around the districts of Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his 3 daughters in a ger, a Mongolian traditional nomadic tent. His wife is unemployed, caring for her children at home. Currently his business is a main income source of this family. Enkhsaikhan works 12-15 hours in a day and his taxi earnings do not usually meet with his family expenses. Two of his daughters attend state college and their school fees are high in a year.
Lately his taxi car has been becoming bad and damaged its body. This influences his service quality and income, as well as customers safety and satisfaction. Therefore he is taking a loan to purchase the new car body for his old taxi car renovation.
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.