Mrs. Enkhbayar, 32, is a taxi driver. She has been running her business since 2008 around the districts of Ulaanbaatar, the capital city of Mongolia. She has already gained enough experience to do her business in the future. She lives with her two sons and her husband in her brother’s house.
She recently started a new business, a textiles shop, with her sister in a rental apartment. The preparation is going well, but some sewing tools and raw materials are needed to start her job completely. She needed exactly MNT 3,970,000 to purchase them. Therefore Enkhbayar is taking a loan to purchase some textile materials and a sewing machine, and other tools to start her new 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.