In 2002 Otgonbayar opened a small grocery kiosk near her home. After four years (2007) she managed to build a small shop and obtained permission to run a grocery store. Her business is expanding gradually, showing her ability and character as a businesswoman. She buys her products from local wholesale dealers and sells them to local customers. She has a good reputation in her neighborhood.
The loan Otgonbayar is taking now will be used to buy necessary building materials to renovate her house and shop. She is planning to do some exterior work on the family house and her shop by fixing the roof and plastering and painting the walls.
About Credit MongolCredit 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.
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Success!! The loan was 100% repaid