Mr. Jargal, 27 years old, lives with his wife and son in Ulaanbaatar, capital city of Mongolia. He has been rendering transportation service to local people since 2012 after quitting his blue collar job in a mining company. His wife has a position of book-keeper, and works in a fiberglass producing factory. Their son is a first grade student at an elementary school.
His brother studies in Korea and didn't pay his tuition fees due to lack of finances. So he is requesting a loan of 3,000,000 MNT to pay for his brother's tuition fees. As a sibling, he has responsibility of helping his brother, and he thinks investing in education is the best thing he can do for him because higher education will open more opportunities.
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.