Mr. Uyen, 45, works as a welder at a private company and lives with his family in an apartment in Darkhan, the second largest city in Mongolia. Uyen always wants to improve his living conditions. This time, he is planning to make renovations to his apartment because it has become very old and uncomfortable to live in. Especially in winter, heat loss happens through the window due to removed insulation of the window. This apartment was built in the early 1980s and has never had any renovations since it was built. Therefore, he is taking a loan to purchase the building materials needed to make renovations to his apartment by himself.
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.