Mrs. Altantsetseg, a 43-year-old widow, lives with her mother in her apartment in Ulaanbaatar, the capital city of Mongolia. Her only son Enkhmend 27 is married and lives with his wife. He works in city's rescue department.
Mrs. Altantsetseg started her retail business in 2006 by selling shoes. Now she rents a space inside the shop and sells cosmetic items. Her business is growing and during past few years she has managed to buy a plot of land for her son and a car for herself. Now she is planning to increase her profits by increasing her working capital and buying more products to sell. The loan will be used to buy more cosmetic products to sell.
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.