Mrs. Tungalag, 61 years old, lives with her three sons and one grandson in Ulaanbaatar, capital city of Mongolia. Six years ago, she retired from work and just one year later began her house rental business. The house she rents out has three separate rooms and every room is rented by one household. She has a plan of expanding her house by adding one more room and this one room will generate income just like other three rooms. Now whole family resides at her elder son’s apartment.
She is requesting a loan of 4,000,000 MNT to purchase an automobile which runs on natural gas. The automobile will be used by her elder son for transportation and taxi service.
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.