Mrs.Badamtsetseg is 43 years old. She lives with her husband, younger daughter, and granddaughter in "ger," a yurt or traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia.
Since 1999, she has run a shoe business. She buys shoes from wholesalers who bring them from abroad, and she sells them at the Narantuul, the largest outdoor market in the city. She rents two stalls at the market. Her husband, Enkhbat, helps in her business part time and also runs a taxi and delivery business using the family car. Their goal is to accumulate anough money to build a family house in the future and to give a proper education to their children. She has a two daughters. Her older daughter, a university graduate, lives separately with her husband. The younger one is a university student.
This time of the year, the temperature drops to -25 to -30 degrees Celsius (-13 to -22 degrees Fahrenheit) and winter warm shoes are in big demand. Therefore, she wants to use this loan to increase her working capital and inventory.
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.