Bayarsuren, 34 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. The family has been residing in a house on his brother-in-law's plot of land for ten years. His wife has been teaching Mongolian to students since 2007 and has recently taken her maternity leave. His elder daughter is 11 years old and is now in fifth grade at school. His recently born child is one year old and stays at home.
Bayarsuren has been rendering taxi service to local people since 2010 and has accumulated a vast amount of experience. He has obtained land recently and he wants to build fences around his land as a protection and as a means of ownership.
So, Bayarsuren is requesting a loan of MNT 1,100,000 to purchase planks to build a fence. After fencing his land, he can build his own house in the future, when the opportunity rises. The borrower is a very hard-working 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.