Songuuli, 38 years old, lives with his parents in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He has been rendering taxi service to the local people since 2007 and has accumulated a vast amount of experience in this service. A few years ago, he purchased a house and land with his savings from the taxi service. His wife lives separately from him. He is requesting a loan of 4,000,000 MNT to purchase planks, which will be used for building fences. As a result, his parents can live in a more protected area due to the surrounding fences. With his parents protected, he can render his taxi service enthusiastically and generate more income for his family. The borrower is a very hardworking individual who strives for a better future.
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.