Mr. Tsogt-Erdene, 28 years old, lives with his wife and son in a house on a plot of land in Ulaanbaatar, capital city of Mongolia. He began rendering taxi service to local people in 2012 and before this he worked in Korea on a two-year employment contract. His wife and son are currently staying at home. In October, their son will begin to go to kindergarten. His wife has plan of studying at the university and for this reason, he is requesting a loan of 2,000,000 MNT to pay her tuition fees. After graduating from her school, his wife would be able to find a job, thus improving their 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.