Munkhgerel is 41 years old and lives with her husband and a daughter in Ulaanbaatar, the capital of Mongolia. They live in a one-bedroom studio apartment which they rent. Her husband is Japanese, who recently married her. Her daughter attends a Raffles International Institute. Munkhgerel has been operating a body- stocking (garment) retail business since 2005 by renting a stall at the Narlag market and selling a variety of socks and tights for the last seven years, and she has gained much experience. She is one of our reliable customers and a very hardworking person who is responsible for paying her daughter’s tuition fee. This is her second loan through Credit Mongol, and this time she is asking for a loan to increase her business profits by purchasing more products.
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.