Mrs. Ganchimeg, 41, sells dairy products in the bazaar. She has been involved in her business for 5 years and already has had many customers. She lives with her family in the slum district of Ulaanbaatar, the capital city of Mongolia. Ganchimeg always purchases her products such as milk and yogurt from her permanent suppliers, who are herders in the Mongolian countryside.
Soon it will be Lunar Year, which is a Mongolian traditional respectful celebration, and demand of the dairy products will be increased notably during the holidays. Therefore, Ganchimeg wants to prepare her sales products for the celebration. It is a good time to increase her sales volume. The loan she is taking will be dedicated to purchasing the dairy products in a large amount for increasing 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.