Mr. Altantur, 42 years old, lives with his wife and 2-year-old son in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He worked in Korea on an employment contract from 1999 to 2000 and came back to Mongolia in order to begin his tourism business with a Korean business partner. But in 2012, his business partner, who is Korean, gave up on this business because of a health issue.
Now, Altantur is employed by a USA invested company as a sales manager. His main duty is to meet with customers at home and introduce his products. He drives around the city a lot, and his automobile is his main tool for his job. The automobile he uses has deteriorated over the years and needs some serious repair. So, he is requesting a loan of 3,000,000 MNT (Mongolian tugriks) to purchase automobile spare parts. Using these spare parts, he can repair his automobile, thus ensuring his sustainable employment. The borrower is a very hardworking individual who is eager to improve his family's living standard.
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.