Ayush is 38 years old and lives with her husband and her two children in the slum district of Ulaanbaatar, the capital city of Mongolia. She is a tailor and has been in business for over six years. She began her business by working out of her rental apartment but now has her own tailoring shop and several regular customers. Over the years she had made many kinds of casual clothes to sell.
Her sewing machine is very old and has recently become impossible to use. It is the primary tool for her tailoring business and, without it; she will not be able to continue her business. Ayush plans to replace her existing sewing machine with a high quality sewing machine, perhaps a western brand. Therefore, she is requesting a loan in order to purchase the sewing machine and continue her 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.