Mr. Munkhtur, 40 years old, lives with his wife and three children in Ulaanbaatar, the capital city of Mongolia. His elder two children study at a local secondary school and other one goes to kindergarten. They reside in their own house. He has been working as a distributor in a private food selling company where his wife has a contract and sells its products.
They are using a very old automobile and want to change it with new one. So, he is requesting a loan of 4,000,000 MNT to buy a new car. The old automobile has burdens such as it constantly stops working out of the blue, requires repair in high frequency, and uses a lot of fuel. They want to buy new automobile which will emit less smoke and have positive impact on the environment.
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.