Mr. Uuganbayar, 26 years old, lives with his wife and child in Ulaanbaatar, the capital city of Mongolia. The family resides on his relative’s plot of land. Since 2011, he has been working as an assistant driller for a private business entity that runs geological research, drilling, and trading. Due to work requirements, he often goes to rural areas to assist in drilling processes. After working in this company for three years and studying at Technology University for three months, he can become a master driller. Also in his free time, he renders a taxi service to local residents.
His wife studies at a one year human resources course and due to lack of finances, she didn’t pay her tuition fee and the family also needs some basic furniture. So he is requesting a loan of 2,000,000 MNT to pay for his wife’s tuition fee and to buy some furniture such as a table, chair, and sofa. By doing so, the family can live in a comfortable place and his wife can get her certificate of human resource management, thus enabling her to find a job. The borrower is a very hardworking individual who aspires to advance his career.
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.