Mrs. Saranchimeg is a shoe seller in the bazaar. She is 30 years old and lives with her husband and two daughters, of whom one is a half-year old. She has been running her business since 2000 at an international market called “Narantuul”. The main process of her business is she purchases shoes from boot-makers wholesale and then sells them retail.
She has requested a loan to raise her purchasing from boot-makers and increase her business turnover. It is a beneficial to her business and she can sell more. In a week, she buys only 15-18 pairs of handmade shoes from shoemakers. Now she plans to increase this number.
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.