Munkhtuya N. is 30 years old and lives with her husband and two children in Ulaanbaatar, the capital of Mongolia. They all live together in a ger, the traditional Mongolian housing tent, on their plot of land.
She operates a carpentry business with her husband in their home. She produces a variety of wooden furniture products including chairs, tables, sofas and wardrobes. And also she operates a retail business and purchases furniture from Ereen, the Chinese border city, and resells it for a profit.
Munkhtuya rents a stall at the Narantuul market, the biggest outdoor market in Ulaanbaatar. She has gained valuable experience in the previous year and has a loyal customer base. Munkhtuya has been planning to expand their product line and increase their sales and to give a good education her children and teach them morals.
She is requesting a loan to pay her stall rent and increase her business capital.
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.