Mrs. Batchimeg is 27 years old. She lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. In 2000, her parents started a family business selling furniture. Mrs. Batchimeg used to sell furniture at the Narantuul, the biggest outdoor market in Ulaanbaatar city. Then in 2006 she started her own furniture selling business along with her husband.
Mrs. Batchimeg buys brand new furniture from China at wholesale price, transports them to Ulaanbaatar city and resells them. She also buys second-hand furniture from private households, refurbishes them and sells them to her customers. From her earnings, she has managed to buy a plot of land and a small truck to transport her goods. In the future, she is planning to build a family house on her land. Therefore, she needs to increase her business profit.
Recently, Mrs. Batchimeg has rented another stall to sell her products. The loan she is taking out will be used to buy more furniture to sell and to buy a metal container to store her products during night time.
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.