Mrs. Munkhzul is 27 years old. She lives with her husband and a 6- and 4-year-old boy and girl in her wooden house, which is located in a boundary area of Ulaanbaatar, the capital city of Mongolia.
She works as a games mistress in a private school, and her husband has been working as a public bus driver in a transportation company for six years. Her elder son studies at a government secondary school and the younger one goes to kindergarten.
Four years ago, her family received a housing loan to buy a house. By this past August, they had paid back the loan. Now, Munkhzul is asking for a 3,500,000 MNT (Mongolian tugriks) loan to buy a used car for carrying her children to their school and kindergarten. Also, she said that she has a plan to run a taxi business in her spare time between home and school. By doing this, she can increase her family income.
In Mongolia during rush hour, finding a taxi can be “mission impossible.” In the future, she is planning to own an apartment with a water and sewer line.
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.