Mr. Gankhuyag runs intercity passenger transportation. It is currently the main source of income for his family. He has been running his business since 2011 and he is a professional and skilful driver.
He lives with his wife and niece in a ger district, an area with no running water, minimal roads and spotty electricity, in Ulaanbaatar, the capital city of Mongolia. His son and daughter live and work in privation in Korea.
Last year, they both bought a bus for their father to start his transportation business. Now Gankhuyag runs his business very successfully and he has gained a profit. But lately all of the tires of his bus have become bad and old, such that he can’t use them anymore.
To this end, he is requesting a loan to cover the cost of six new tires for his bus, in order to continue running his business normally.
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.