A loan of $1,150 helped to cover some costs of his purchasing a new car.

Erdenebold's story

Mr. Erdenebold, 49, has a taxi business. He has been running his business for 8 years nonstop. Currently, it is a main income source for his family. Before, he used to work as a driver in a private company. He lives with his wife and his children in Ulaanbaatar, the capital city of Mongolia. His wife is a doctor, but she has been unemployed for a long time.

Mr. Erdenebold spends the whole day for his business and he earns approx. 12-18 USD in a day with his old and bad car. But his business earnings do not usually meet with his family necessities, so he decided to change his taxi car with a better one. It was a little bit expensive for him, but his business will improve. The loan he is taking will be dedicated to cover some costs of his purchasing a new car. In addition, he really hopes that his business will be improved with the new car.

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Loan details