Sarangerel, 48, is a shoe seller. She lives with her family in the ger district in a traditional Mongolian nomadic tent.
Sarangerel sells her shoes in a bazaar in the suburban district of Ulaanbaatar, the capital city of Mongolia. She has been running her business for 7 years and she has many permanent customers. The Lunar Year is approaching. It is a traditional and respectful Mongolian celebration. The demand for commodities such as shoes will increase notably during these days. Therefore, she wants to prepare her commodities in advance of the celebration, which is a big opportunity for merchants. The loan she is taking will be dedicated to purchasing shoes in large quantities in order 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.