Mr. Mend-Ayush, 57 years old, lives with his wife, two sons and daughter in Ulaanbaatar, the capital city of Mongolia. The family resides in a traditional Mongolian ger (portable felt dwelling) on a plot of land. He has been working as a bus driver for many years and is experienced at driving long distances. His two sons both work at private companies. His elder son has worked as salesperson for two years and, using his savings, he has bought a minivan and begun rendering transportation services to local people. His daughter studies at high school. He is applying for a loan of 4,000,000 MNT to cover the costs of repairing fences and buying spare automotive parts. The fence repair will enhance the security of his property and set a visible boundary between households. The spare automotive parts will be used for his son's recently purchased minivan and, after the repair, the son’s transportation service will provide increased customer satisfaction. The borrower is a very hard-working individual who wants to improve his family's standard of living.
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.