Mrs. Bolortuya, 34 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She works as a decorator at a private company. Her husband earns income by using his truck to transport goods. The family resides in their own house on a plot of land. The house they live in needs some home appliances. Also, the truck her husband uses has deteriorated over the years and needs some repair. As winter comes to Mongolia, the house gets cold and the family is in need of some heating source. So she is requesting a loan of 3,000,000 MNT to purchase an LCD television, carpet, coal and some equipment for truck repair. As a result, the family can improve their living environment, as well as repair their income-generating truck.
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.