Batdorj, 52, has been running a clothes selling business with his wife since 1995. At night he operates a taxi around town, which helps greatly to increase his family's monthly earnings. Batdorj lives with his wife and daughter in a shared apartment. His car is an old car to use for a taxi business, and lately it has been running poorly. This influences his service quality and business earnings for the worse, so Batdorj has decided he would like to buy spare parts for car repair. It will cost about 2,700,000 MNT. The loan he is taking will be dedicated to repairing his 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.