Mrs. Enkhjargal, 31, has been working as a hairdresser for ten years. She lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia.
Everyday, Enkhjargal cuts the hair of many customers and lately her number of customers has been increasing notably. This is good for her business and her earnings. But there is problem because her equipment, work tools and other appliances are old. When she has a high workload, her hair machine is always jammed and damaged. Therefore, Enkhjargal needs to replace them immediately. The loan she is taking will be dedicated to purchasing new hairdressing equipment and appliances to improve her shop.
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.