Mr. Enkhbayar, 31 years old, lives with his parents in Ulaanbaatar, the capital city of Mongolia. During his life, he worked as a construction decorator and saved some cash. Using his cash, he purchased an automobile, which has been used for taxi services since 2011. Now he wants to purchase a microvan to generate more income. According to his own calculations, Mr. Enkhbayar's income will double if he transports people between Ulaanbaatar and Ulan-ude, the capital city of the republic of Buryatia, Russia, using his microvan. So, he is requesting a loan of 3,500,000 MNT to purchase a microvan. As a result, he can generate more income for his future family, as well as ensure the wellbeing of his parents. His parents are near retirement age and are looking forward to their son's success.
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.