Mrs. Enkhtsetseg is 49 years old. She lives with her husband and two children in Kherlen city in Dornod Aimag, the far eastern province of Mongolia 750 kms away from the capital. She has been running a bakery business for 7 years and has regular customers who buy her products. Her husband is unemployed at the moment. Finding a job in the remote city of Kherlen is quite hard because it is located far from the capital and other towns and is undeveloped.
Enkhtsetseg’s eldest son runs a transportation business. He has an old Russian truck and transportd goods over long distances. Because his truck is very old and uneconomical in terms of petrol use, he wants to sell it and buy another truck in better condition which uses less petrol, carries more load, and is reliable. The loan Mrs. Enkhtsetseg is requesting will be used to replace her son's old truck for a better one.
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.