Mr. Jargalsaikhan, 27 years old, lives with his mother in Ulaanbaatar, capital city of Mongolia. They reside in their own ger (Mongolian traditional home) on a plot of land. Jargalsaikhan has been working as a cook for five years, and his mother is retired from work. He learned all his cooking skills in Korea. He is a very hard-working individual who strives to improve his living standard for the sake of his mother. In order to generate more income, he is requesting a loan of 4,000,000 MNT to purchase an automobile that runs on natural gas. Using this car, he can render taxi service to local residents during his free time. This loan is very beneficial for both him and the environment as the car can be used for taxi service while emitting less smoke and thus contributing to the efforts against air pollution.
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.