Mr. Batsaikhan, 48 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He has been rendering taxi service to local people since 2011. He has accumulated a vast amount of experience in picking up customers, driving them quickly to their destinations and finding shortcuts. His wife works as an interior decorator, at a private business entity. Their elder son is a graduate year student, and their younger son goes to high school.
Batsaikhan is requesting a loan of 900,000 MNT. He will use it to engage in a building materials sales business this summer. Using the loan, he will purchase building materials such as planks, bricks, cement and shingles, from China. He will sell the materials later, at retail prices, to local people and business entities. During this time of year, demand for building materials increases drastically, so he can profit from this demand and will improve his living standard. 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.