Mr.Altangerel is 54 years old. He lives with his 52-year-old wife and their son in his old small wooden house in Darkhan, the second largest city of Mongolia. His house is located in a boundary area of the city with no running water, minimal roads and spotty electricity. He is a person with physical challenges and receives $250 as a disability pension from the government. His wife doesn’t have job and his son is a student who studies at a local university (in his 3rd year). Last year, his son became the best student of his university and he is very happy and proud of his son’s success. Altangerel is asking for a 1,500,000 MNT loan to pay his son’s tuition fees and to buy necessary items for his son’s education. He will repay the loan in 24 months.
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.