Mr. Jargalsaikhan, 48 years old, lives with his wife in Darkhan, the second largest city in Mongolia. His elder son got married and lives in Ulaanbaatar on his own. His younger son studies at the university and is now a fourth year student. Jargalsaikhan's wife is unemployed and stays at home looking after the household. He himself has been working as a security officer at a private firm for six years, and before that he worked in a tailoring factory.
He is requesting a loan of 2,000,000 MNT to pay his younger son's tuition fees. He thinks the best thing he can do for his son is to invest in his education which will be useful in his later 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.