Ganchuluun is a 45-year-old single mother who lives with her son and mom in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian nomadic tent, on her brother’s plot of land. Her son Tsogbadrakh is 22 and currently employed at Ochir Aldar LLC as a sales manager. Her mother is retired.
Ganchuluun has been running a retail clothing business for many years. She rents a stall at Narantuul market, the biggest market in Ulaanbaatar. Ganchuluun buys her products from wholesalers who import them from China. She is a very hardworking and persistent person.
Ganchuluun is requesting a loan to increase her working capital. In the future, she hopes to improve her family’s living conditions by expanding her business.
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.