Mrs Erdenetsetseg is 53 years old and lives with her husband and two daughters in a suburb of Ulaanbaatar (the capital city of Mongolia). She also has two sons, who are grown up and live separately. Her husband works in a transportation company as a truck driver. The eldest daughter, Bayarmaa, 26, works with her mum. Her other daughter, Bayarjargal, 22, graduated from university this year and is looking for a job. Mrs Erdenetsetseg used to work in a clothing factory as a tailor and seamstress until 2004, when it was closed down.
That same year she rented a small workshop and started running a tailoring business making various dresses and clothes. Now she has gained valuable experience and has a loyal customer base. Mrs Erdenetsetseg is an energetic and enthusiastic person. Her family owns a plot of land and small house in a suburb of Ulaanbaatar. In the future they are planning to make some extensions and renovations to the house, therefore she needs to generate additional revenue by extending her business and increasing her working capital. The loan she is requesting will be used to buy two more professional sewing machines and more fabrics and materials for the business.
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.