Undarmaa is 29 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. They live together in a small wooden house on her plot of land. Her children, ages 6 to 11, are all attending the local secondary school.
She and her husband have been running a furniture making business since 2006. They buy materials such as plywood, planks, glue and wood processing equipments to make different household furniture for apartments and gers (a traditional Mongolian nomadic tent). Undarmaa sells the furnitures at “Narantuul”, the biggest outdoor market in Ulaanbaatar city.
She was telling us that her business was struggling when they first started, but now they have their own customers from whom they receive enough orders to make a furniture. Her dream is to give her children a good education and teach them good morals. At the moment she is planning to expand her business by buying new wood processing equipments such as lathe and carving machine.
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.