Mr. Enkhbold, 34, runs a transportation business through a mini truck. He lives with his two children and wife in a ger, a traditional Mongolian nomadic tent, located in Kherlen town of Dornod, a province of Mongolia. He has been managing his business since 2007 and could buy a small sized land with his business earnings. Before starting his business, he used to work as a driver in the Mongolian Border Defense Force for many years but had to leave his job due to an illness.
Now he is planning to boost his income by buying a new truck of a larger size than what currently he has. Having a new truck will benefit him business and help him improve his family's living conditions. Therefore he is requesting a loan to cover the payment for purchasing the new truck.
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.