Mr. Arivjikh, 57 years old, lives with his two sons in Ulaanbaatar, the capital city of Mongolia. He has been offering taxi service to local people since 2004. His elder son studied at a Korean college and now works at a mining company. The younger one goes to university and will graduate next year. Arivjikh's wife has passed away and it is up to him to take responsibility for their two sons.
He is requesting a loan of 4,000,000 MNT to run a car wash facility so that he can generate more income for his family and help his sons' lives. He thinks this car wash business can be a family business as his sons are willing to support him.
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.