Batzorig is a 23-year-old single man who lives with his parents in Ulaanbaatar, the capital city of Mongolia. Batzorig’s mother is unemployed and looks after the household, and his father works in local council as a water distributor, distributing fresh water to slum district households.
Batzorig runs a taxi business using his family's car. To run a taxi business without a warm garage is impossible, especially in the winter, because during winter nights cars freeze and people always have trouble starting them.
Last year Batzorig started building a warm garage for his car and at the moment the basement is completed. The loan Batzorig is taking out will be used to complete the garage building project with the purchase of bricks, cement, and a garage door.
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.