Otgonbayar is 49 years old and lives with her husband and two sons in Ulaanbaatar, the capital city of Mongolia. One of her two sons is a student and the other one is a pupil in secondary school. Otgonbayar is a pharmacist and has been managing a pharmacy since 2009. She employs two druggists who work in shifts. At first, she has opened her pharmacy with the money from purchasing her house, which was very difficult for her. She has a plan to expand her business by opening a pharmacy branch near the downtown area. It is very beneficial and important to her business.
Recently, her short-term plan is to increase her pharmacy assets. Therefore, she is taking a loan to purchase and resell drugs in her pharmacy from registered suppliers to raise her current assets.
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.