Mungunchimeg is 23 years old and lives with her husband in Ulaanbaatar, the capital city of Mongolia. The couple married one year ago, and her husband provides taxi services to local people. The family resides in a traditional Mongolian ger (portable felt dwelling) on a plot of land. Mungunchimeg studies traditional bone setting at a medical college, and she will graduate in the next two years. Sometimes she helps her husband by providing taxi services in his absence. She acquired driver’s license in 2010 and in September 2011 they began their taxi service. The taxi service income covers her medical college tuition fees and the family’s other expenses.
Mungunchimeg is requesting a loan of 1,500,000 MNT. The money will be used for two separate purposes. The first is the purchase of four winter tires for their automobile, which generates their main source of income. The second is purchasing insulation materials, carpet, and a computer for their home. As a result of this loan, the family can render their taxi service without worrying about the well-being of their automobile and they can live in a comfortable and warm place.
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.