Mrs. Altantsetseg, 52, is a druggist, a profession that she practiced between 1980 and 1997. Now she works as a social worker in a public organization. She was widowed many years ago and now lives with her two children in the ger district in Ulaanbaatar, the capital city of Mongolia. A ger is the traditional Mongolian nomadic tent.
Altantsesteg has been thinking about her profession for the last several years. Her current income does not enable her to meet her family's regular expenses. Her two children both attend secondary school, and there are always sudden expenses related to her children. Once she said that one of her biggest wishes is to get the best education for her two children.
Due to her financial circumstances, she decided to start a pharmacy business in order to increase her earnings. She needs about 2,800,000 MNT initially to build working capital for her new business. The loan she is taking will be dedicated to purchasing drugs from certified suppliers for starting her pharmacy business.
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.