Ariunzul is 38 years old, married, and has three children, two of whom attend school. They live in Ulaanbaatar, the capital city of Mongolia. They live together in a ger, the traditional Mongolian nomadic tent on someone’s plot of land. Ariunzul and her husband operate a small tire repair shop and also sell engine oil. They have operated this business for the last three years and have gained a lot of experience over the years. She also works at the local hospital as a cleaner. From the beginning, the family business has been doing well, with business capital increasing from 300,000 MNT to 4,00,.000 MNT. Ariunzul dreams of owning a larger tire shop. She also hopes to build a small wooden house in the future. She has taken out two loans from Credit Mongol already and has used them appropriately. She is requesting a loan to start a new engine oil kiosk.
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.