Mrs. Ariuntuul, 29, is a taxi driver and has been running her business for a half-year. She lives with her husband in Kherlen, a western boundary town of Mongolia. She and her husband used to have their own livestock, but they sold all of them and bought a car to start the taxi business. It is going on successfully and according to her plan.
She and her husband have now decided to start another business, a grocery store downtown, because the earnings from the taxi business isn't a large enough income source for their family. Initially she needs 2,500,000 Mongolian tugriks (MNT) for building working capital, such as food commodities for sale. Therefore the loan she is taking will be dedicated to purchase the food commodities from the market for her new grocery store.
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.