Oyunbat, 31 years old, lives with her husband and three children in Ulaanbaatar, the capital of Mongolia. They all live in a house. Her elder two daughters are attending local secondary school, and the youngest daughter stays at home. She has been operating a retail business selling accessorized felt boots since 2000. She purchases felt boots and accessorizes them for resale. She adopted this business from her husband, and after years of operation, she has managed her working capital and with the earnings she purchased a family car and a plot of land for the house which they built recently.
In the summer time she also operates a different business, a leather saddle cloth making business with her husband. Now her business is getting busy and she already has her regular customers who buy accessorized felt boots. In the future she is planning to expand her business and to have her own factory. Therefore she is requesting a 3,000,000 MNT loan to purchase 200 pairs of felt boots to accessorize.
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.