Nyamdavaa is 32 years old, a humble, helpful and open-minded person. He lives with his mother and seven-year old daughter. His daughter, Enkhjin, attends secondary school. He has been working as a driver in a local company since 2011. He is hard worker, but his salary is not enough to support his family. He wants to increase the family income. Nyamdavaa says, “As a father, I would like to be financially able to provide a good education and meet other necessary expenses for my daughter until she is grown up. Also, I would like to expand a new business and to purchase our own apartment for my family in the future." He already paid part of the money for his minivan, but he still owes 4,000,000 MNT to the seller. The reason he is asking for this loan is to pay the rest of the money for his van. He will run a transportation business and carry people along one of the remote bus lines in Ulaanbaatar City.
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.