Tserenchimeg is 33 years old, lives with her 2 children and her husband in Ulaanbaatar, the capital of Mongolia. They all live together in a one-bedroom studio apartment. Her two children, 5 and 13, attend kindergarten and local secondary school. Tserenchimeg has worked in a laundry service, named “Pegma”, as a hostess since 2005. Her husband Uranbaatar, 35, has operated a tire repair shop for the last three years. Tserenchimeg purchased a second-hand car by her savings.
This is her second loan through Credit Mongol and she is one of our reliable customers. Tserenchimeg says "I am planning to open my own laundry service in the future.” Tserenchimeg is requesting a loan to purchase construction materials to fix her apartment.
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.