A loan of $2,775 helped to pay for the car which he is buying. The car will be used by his eldest son as a taxi and bringing extra income to the family.


Bayarsaikhan's story

Bayarsaikhan is a 52 year old retiree who he lives with his wife and 5 children in Ulaanbaatar, the capital city of Mongolia. He owns a small plot of and the family house on it. His 5 children are between 19 and 28 years of age, but none of them have married yet and currently his family live quite crowded all together. Bayarsaikhan is a former policeman who had worked as a policeman for 30 years. In 2009 he retired and bought a car with the lump sum which he received at retirement. Currently he is running a taxi business using his family car. Bayarsaikhan is planning to buy an another car and give it to his eldest son. He wants him to run a taxi business as well bringing extra income to the family. Bayarsaikhan has 1800 USDs in his savings and he needs another 2800 USDs to buy a good second hand car. The loan Bayarsaikhan is taking will be combined with his savings to buy the car.



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Loan details