Mrs. Battsetseg is a 42 year old divorcee and she lives with her 2 children in Ulaanbaatar, the capital city of Mongolia. Her eldest daughter has just graduated from secondary school and is currently taking exams towards University. Her son studies at the local secondary school. They live in a ger, a traditional Mongolian nomadic tent in ger district. Two years ago her husband left the family.
Battsetseg has been running a taxi business since 2002, using her family car. Last year she bought a mini truck and she is currently leasing it monthly to someone else for small amount of money. It gives her a chance to earn some extra income. She owns a small land plot in ger district and now she is planning to build a small family house on it.
The loan that Battsetseg is taking will be used to buy necessary building materials like cement, sand, wood planks and beams and to build the basement and the main structure of the house.
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.