Khatantamir, 38 years old, lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. She has been working as a cook assistant at a bakery since 2008. Her husband is a driver at private firm. Their elder two sons study at the university while the youngest child goes to high school.
Due to increase in the university's tuition fees, she and her husband face difficulties in paying their sons' education fees. So she is requesting a loan of 2,900,000 MNT to pay for tuition fees. The investment in education is the most important thing, she said during our loan officer's interview.
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.