Mrs. Handaa is 49 years old and lives with her husband in Ulaanbaatar, the capital city of Mongolia. She has one daughter, who is married and lives separately. Mrs. Handaa has been running a retail sales business since 2000. She buys different tools, instruments, hardware and spare parts from wholesalers and sells them at Khar Khorin, the second largest outdoor market in Ulaanbaatar city. She has taken a loan from Credit Mongol before and repaid it on time. Her business is doing very well. In the future she is planning to build a new family house on her plot of land. Therefore she is trying to save some money by increasing her business profit. This time, she is applying for a loan to increase her working capital, inventory and to buy more tools and instruments for resale.
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.