Mr.Bat-Orgil is 38 years old and lives with his family in Darkhan, the second biggest city in the country of Mongolia. His wife owns a small grocery shop in the family yard. She has been doing this business for more than 7 years and is very experienced in this sector. Bat-Orgil’s eldest son is in the Army and will be demobilized from it next year.
Bat-Orgil owns a car, which he uses for his taxi business. He says it is very good earnings. Unfortunately, his car is out of date and he wants to renew his vehicle. He has just purchased a new car for 6,000,000 tugrik and he has paid off 4,000,000 tugrik. Now, he is requesting a 2,000,000 tugrik loan to finish his car payments.
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.