Erdenedalai, 31, sells clothes in the outdoor market in Ulaanbaatar, the capital city of Mongolia. She lives with her family in the slum district. She sells track suits and other kinds of outfits. She has been running her business for 6 years. She had started her business with just one stall and now she owns 2 stalls in the bazaar. Her husband works as a driver of a heavy truck on a mine site.
Erdenedalai wants to increase her business working capital to expand sales volume and to further increase her earnings. Also after a month there will be Lunar Year which is a traditional Mongolian celebration. Demand on clothes will increase notably during those days. The loan Erdenedalai is taking will be dedicated to purchase clothes in a large amounts to increase her sales volume.
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.