Mrs. Battsetseg is 35 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. All three kids go to the local secondary school. Mrs. Battsetseg rents a basement room under an apartment block and runs a variety store. She has been running this business for three years.
In Mongolia, a variety store is basically a small convenience store which retails groceries, toiletries and beverages piecemeal to the local residents. Her store is located nearby to her rented basement apartment, and her regular customers are her neighbors and the local residents. Her store is in a good location and it is close to all amenities.
Her husband Boldbaatar has a family car and uses it for delivering goods from wholesale points to the store. Their future dream is to have their own family house and to give a proper education to their kids.
The loan they are requesting will be used to replace their old family car with a newer one in better condition.
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.