Bazarsad, 40 years old, lives with his wife and two children in Kherlen, the easternmost town of Mongolia. He has been working as driver at a private firm since 2004. His wife has a position in the nursery at the surgery department of the hospital. Their elder son is graduating from university this summer and is studying technology. The younger son goes to high school.
Bazarsad is requesting a loan of 1,800,000 MNT to pay for his son's university tuition fee. He thinks this is the best investment he can make for his son because after graduating his university, his son can open opportunities for himself.
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.