Mr. Battulga is 29 years old and lives with his wife and six-year-old son in Ulaanbaatar, the capital city of Mongolia. The family resides in their small wooden house on his mother-in-law's fenced land. Since 2008, he has been offering a taxi service to local people, using his automobile and he is quite experienced at picking up customers, driving them quickly and finding shorter routes.
His wife has been running a business, selling clothes at a rental stall in the trade center. As summer approaches in Mongolia, demand for clothes increases dramatically, especially for shorts, sandals, hats and shirts. So, he is requesting a loan of 4,000,000 MNT in order to purchase summer dresses from China. As a result, his wife can continue to run her business without worrying about a shortage of inventory. The borrower is a very hardworking individual who wants to save enough money to educate his son at a well-ranked private high school.
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.