Narantuya is 40 years old and rents a stall where she sells food commodities in a market called Fresh. She lives with her two daughters and husband in the boundary district of Ulaanbaatar, in the capital city of Mongolia. She has been running her business for a year and half. Mainly she sells fruits from Russia as it is the most popular products of her stall. Currently she has a plan to increase the working capital for expanding her business. She will buy bulk amounts of fruits from Russian suppliers. Therefore she needs two more refrigerators to keep her fruits healthy. The loan Narantuya is taking will be dedicated to cover the payment of new refrigerators that will keep her fruit fresh.
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.