Roza, aged 57, is a pensioner who previously worked as an accountant for 30 years in the state organization. Now, she lives with her two sons, her daughter-in-law and her nephew on a plot of land in the ger district, an area of Ulaanbaatar, the capital city of Mongolia, which has no running water, minimal roads and irregular electricity.
Her grandson, Batbold, aged 32, runs a freight transportation business around the city and rural areas using his old truck. He has been running his business for four years and has gained a lot of experience. Actually, it is the main income source of this family.
Lately, his truck has needed some repairs. It especially needs four new wheels and a trunk. As he said, “I don’t want to stop my business and it will be a big boost for my business if I can repair my truck”. Therefore, her grandson needs some money to buy four new wheels and a trunk for his truck.
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.