Oyunchimeg is a 43-year-old woman. She lives with her husband and two daughters, aged 13 and 20, in Ulaanbaatar, the capital city of Mongolia. Oyunchimeg’s husband used to work in South Korea on labor contract. Two years ago, he came back from Korea and bought a plot of land with his savings and built a house by himself. Oyunchimeg’s eldest daughter studies in Medical College and the youngest one studies in the local secondary school.
Oyunchimeg rents a stall in Narantuul, the biggest outdoor market in Ulaanbaatar, and sells secondhand clothes which come from abroad. She has been running this retail business since the year 2000. She is also one of Credit Mongol's reliable VIP customers. Her family used to live in a ger, the Mongolian traditional nomadic tent. She says that a loan from Credit Mongol helped her a lot. Now she has her own house, an established business and a family car. She is a very hardworking, self-motivated and persistent person. The reason she is asking for this loan is she wants to buy 10 bundles of winter clothes from the wholesalers and increase her inventory before the fall. One bundle of clothes weighs around 100 kilos.
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.