Mr. Nyamdavaa, 53 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. He has been running an automobile repair workshop since 2011. His wife is unemployed and stays at home. Their son is a college student and works part time. He is requesting a loan of 3,000 USD to buy spare parts in order to improve his service. As automobile sales sky rocketed, repair of automobile increased and spare parts are in great demand.
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.