Mr. Khurelbaatar, 47, is a taxi driver and has been operating a taxi around Ulaanbaatar, the capital city of Mongolia. He lives with his wife and his three children in his house, which is in the ger district, a community of Mongolian nomadic tents in the boundary area of the city. All of his three children are college students.
Khurelbaatar used to work as a driver in the state organization for many years; he suddenly left his job due to an occupational accident.
His family furniture hasn't been updated since he married his wife many years ago; he wants to update most of these items. "It will be a big contribution to improve the living condition of my family,” Mr. Khurelbaatar said. He is taking a loan to cover the cost of the new furniture for his home.
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.