Enkhtuya is 42 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. They all live together in a small wooden house on their own plot of land. Her two children attend a university and her husband, Batkhuyag, has a family car that he uses for transporting people to Tuv province two or three times a month.
Enkhtya operates a variety store in her own kiosk. She has been running this business for the last ten years. In Mongolia, a variety store is basically a small convenience store which retails groceries, toiletries and beverages, sold piecemeal to the local residents. Her store is in a good location, located near a bus station and close to all amenities. She is planning to expand her business into a supermarket in the future, and to provide a proper education for her children.
She built a house on her land using her family's financial help, and now she needs to pay them back. Therefore she is asking for a loan to increase her working capital so as to buy more products and increase her inventory.
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.