Mrs. Uranjargal is 44 years old and lives with her husband, Erdenesukh (48), and son, Munkherdene (16), in a rented house in Ulaanbaatar, the capital city of Mongolia. She has one more son who studies at a local University and lives separately.
Uranjargal’s husband is a taxi driver. Since 1996 Uranjargal has been running a retail business. She rents space in Bayanzurkh market and sells a variety of domestic cleaning products. She buys her products from wholesalers who import them from China and Russia. Her starting capital was 500 USD. Today, her working capital is 2500 USD.
She is a very hardworking and persistent person. Her future plan is to improve her family’s living conditions by buying a family house and to give her kids a good education.
The loan Mrs.Uranjargal is requesting will be used to pay her son’s annual University fee and to increase her working capital.
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.