Mr. Erdenekhuyag is 39 years old and lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He and his wife have been rendering taxi service to local people using only one automobile night and day, respectively. Before this job, Erdenekhuyag worked at a building site from 1994 to 2006.
Erdenekhuyag is requesting a loan of 2,700,000 MNT to purchase one additional automobile, which runs on natural gas, in order to increase his family's income. If he and his wife both work day and night without shifting, his family income will double and they can afford to cover his son's higher education expenses. Erdenekhuyag is a very hardworking individual who wants to improve his family's life.
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.