Urgamal has been a hairdresser since moving to the capital city. She rented a corner with her eldest daughter, Sarantungalag, 21, who is also a hairdresser and works with her. Urgamal has gained valuable experience in previous years and has a loyal customer base. Her second husband, Batmunkh, works as a firefighter at the state’s emergency department.
Urgamal is planning to open her own salon and give her children a good education and morals. Part of her loan will be used to pay for some necessary furniture for her son who recently moved out, and the other part will be used to pay her younger daughter’s tuition fees.
About Credit MongolCredit 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.
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