Mr. Nyamdorj, 36, runs freight transportation around Mongolia. Actually, he carries the construction materials or heavy mining goods between the places in the countryside by his truck. He started his business one and a half years ago. Before, he used to work as a manual laborer in Korea and came to his motherland just before he started his business.
He lives with his family in the slum district of Ulaanbaatar, the capital city. Currently, his business income is a main income source for this family. Now, Nyamdorj wants to make routine maintenance and adjustments to his truck. It is a quite expensive in Mongolia, but it's a beneficial thing to improve and to take much more orders in the future. The loan he is taking will be dedicated to purchasing the necessary spare parts for his truck and cover the cost of auto service. He believes that he is going to have a transportation bureau after a decade.
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.