Byambadorj is 32 years old and lives with his wife and two children, ages eleven and two, in their small house in the slum district of Ulaanbaatar, the capital of Mongolia. His wife is studying to be a train conductor and will finish in November 2012. Byambadorj has been working as a taxi driver for five years.
Recently, he has exchanged his old car for another second-hand one, a Honda Fit, which consumes less fuel and saves more money for his family. Unfortunately, his car has broken down, so Byambadorj is requesting 1,300,000 MNT to completely overhaul his car. By doing so, he can work for a few more years without worrying about the 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.