Batkhuyag, 25, works as a watchman in a public organization. He lives with his two children and his wife in Kherlen, a town in the Dornod province of Mongolia. He has been doing this job since 2008 and this April he bought a car with his savings. When he has days off, he runs a taxi business, earning additional income which is important for the daily expenses of his family.
Now, he needs to build a garage behind his home due to the breakage his car faces in the winter time. Mongolian winters are freezing cold and this badly affects cars. Therefore, Batkhuyag is taking a loan to purchase some building materials to build a garage for his taxi car.
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.