Mr. Zoljargal, 26, works as driver in the state organization. He lives with his family in Kherlen, a boundary town of western Mongolia. His wife, Soyoltsetseg, runs a tailoring business in a rented shop. Since 2008 she has been running her business with her husband and already has many permanent customers. She has hired 2 other sewers and they always have a high workload. Next month her tailoring shop will be expanded by one other employee. It will be part of their business improvement. Due to this they need to purchase a new sewing machine with double-cross stitching capability. The loan Zoljargal is taking will be used to purchase a new sewing machine for expanding his wife’s tailoring 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.