Mr. Olzii-Orshih, 57 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He has been rendering taxi services to local people for five consecutive years and has accumulated vast amount of experience in picking up customers, driving them to their destination quickly and shortening roads. His wife has a sewing workshop where she receives orders and makes dresses.
He is requesting a loan of 1,500,000 MNT to purchase additional sewing machines in order to replace old ones as they have deteriorated and work less efficiently. As his taxi earnings are decreasing so the entire family becomes more dependent on the sewing workshop.
The borrower and his wife are both hardworking people who value hard work and persistence.
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.