Mr. Amarjargal is 32 years old and lives with his wife and two children in Kherlen, a boundary town in Mongolia. He works as a controller in the court. Beside his job, he runs a taxi business to increase his earnings. His salary usually does not provide for his family's necessities. During holidays or his days off, he drives around the town and his customers pay him one dollar per mile.
His taxi car is becoming very old and some of its parts are damaged. Therefore he decided to refurbish his car, and it needs new spare parts for a complete service. The loan he is taking will be dedicated to purchasing the spare parts to refurbish his 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.