Tungalagtamir, 25, works as a driver. He does not own a home and now he lives with his wife in a rental house. He has been doing his job since 2009 and his wife works as a railway woman.
Tungalagtamir moved out from his parents house three years ago and he never had his own capital. Recently, he decided to purchase a small plot of land in a rural area that is close to the city. But he lacks enough money. He is taking a loan to cover the cost of his purchasing the plot of the land for his family.
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.