Mr. Amarbayar, 25, lives with his wife, mother, and three-year-old child in Ulaanbaatar, the capital city of Mongolia. His family resides in their own house on his mother-in-law’s plot of land. He has been working as a welder at a private company for two years. Currently his wife is staying at home in order to care for their child. His mother-in-law is retired.
Mr. Amarbayar is requesting a loan of 2,000,000 MNT to purchase a small automobile that runs on natural gas. This will improve the family's standarad of living and can also be used for taxi services. Another advantage of an automobile that runs on natural gas is that it emits less smoke, 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.