Myadagmaa is 36 years old and lives with her husband and daughter in Ulaanbaatar, the capital city of Mongolia. She and her family live together in a house. Her daugther, Tsendsuren, is 14 years old and attends a local secondary school. Her husband is a working engineer in a company.
During the day, Myadagmaa operates an underwear-trading business at a local market called Narantuul. For her retail business, she purchases a variety of products from Ereen, a Chinese border city, and resells them for a profit. She started her business in 1999 with working capital of 50,000 tugrugs (about $36). After years of successful operations, she has managed to increase her working capital to a level exceeding 2,000,000 tugrugs (about $1,445) today.
Myadagmaa has good communication skills and her business is very important to her. She says, “I would like to provide a good education for my daughter.” She is requesting a loan to purchase a large amount of underwear to sell to her many customers.
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.