Naranbaatar is 38 years old. He lives with his family in a ger, a traditional Mongolian yurt, in the boundary area of Ulaanbaatar, the capital of Mongolia. His family consists of 5 people: his wife and their 3 children, aged 8, 6, and 3. His wife doesn’t have a job, so she looks after the children.
Naranbaatar is a taxi driver and has been running a taxi business for 3 years. Before this, he has worked as a steel frame worker in a construction company. However, his salary was low compared to the risk he was taking. He managed to earn some money to buy a car and a plot of land. In 2010, he bought the land and the car, which he is using now for his taxi business. He says, running a taxi business is more profitable than his previous job, so he has a plan to continue this business.
Naranbaatar is asking 1,000,000 MNT loan to buy a PC and table and chair for his daughters to support their education. He thinks that his daughters should have a good education in order to take high positions in society.
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.