Lkhagvatseren is 36 years old, lives with his wife and a 13-year-old son in their house in Ulaanbaatar, the capital. Their house is located in the area of the city with no running water, minimal roads and spotty electricity. Lkhagvatseren has been running a transportation business with his wife since 2000. He rides a micro-bus with 14 seats and runs through the east and west sides of the city. His wife works as a conductor and gathers the money from passengers for the transportation. Lkhagvatseren loves his micro-bus because it provides money to his family.
So before the winter Lkhagvatseren is planning to build a garage near his house to prevent the car from freezing up. If his car breaks down he would need more days to fix the car and to spend additional expenses.
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.