Bat-Erdene, 39, drives a taxi around the districts of Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his two children in his house, which is in the Ulaanbaatar ger district, an area of the city with no running water, minimal roads and spotty electricity.
He has been running his business for 1.6 years and now it is the main income source of his family. This time he is taking a loan to repair his taxi because it is old and needs repair.
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.