Mrs. Nansalmaa is 45 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. They do not have their own plot of land and currently they live in a 'ger', the traditional Mongolian nomadic tent, on Nansalmaa’s sister’s plot of land.
Nansalmaa sells underwear and lingerie at Narantuul, the biggest outdoor market in Ulaanbaatar city. Once or twice a month she travels to Ereen, a Chinese border city, and buys her products from wholesalers. She is planning to buy a car to use for transportation of her products. Every morning she has to carry her products to the market and in the evening she carries them back home, because she rents a stall in the market and there is nowhere to store her products. The loan she is requesting will be used to buy a small car to carry her products to the market.
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.