Mr. Purevkhuu, 26 years old, lives with his wife and two daughters in a Mongolian traditional ger (portable felt dwelling) on a plot of land. He has been transporting goods between districts since 2011. His wife stays at home, looking after their children.
He is requesting a loan of 2,000,000 MNT (Mongolian tugriks) to buy a trailer in order to double the quantity of goods that he can transport at a time. As a result, his income will increase twice, and his living standards will improve. The borrower is a very hardworking individual who strives for a better future.
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.