Ijilsekhbayar is 41, widowed, and has a 12-year-old daughter, Bolor-Erdene, who attends a local secondary school. They live in a rental apartment in Ulaanbaatar, the capital city of Mongolia. In 2008, Ijilsekhbayar, started selling bricks to local construction companies. From the beginning, the business has been doing well, with business capital increasing from 500,000 MNT (~357 USD) to 2.3 million MNT (~1,660 USD). Ijilsekhbayar dreams of owning a larger brick factory that can meet the needs of larger construction companies. She also hopes her daughter will achieve a high level of education. Ijilsekhbayar is now requesting a loan to buy construction materials for her brick baking.
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.