Oyunerdene, a 53-year-old mother of 2 children, lives with her husband and daughter in Ulaanbaatar, the capital of Mongolia. They all live in a small wooden house. Her husband, Sambuudorj, 55, works in a “Housing Service LLC” as a machinist, and her daughter is a student at Humanities University. She operates a grocery store in her yard and has been operating her business for over 3 years. Her store has an excellent location, and her regular customers are her neighbors and the local residents. In the future, she is planning to purchase large amounts of products for her store to increase her sales. With this loan, she will purchase furniture for her son who currently lives separately.
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.