Mrs. Bayarsaikhan, 52 runs a grocery store at her home. She lives with her husband and her 3 kids in an old house in the slum district of Ulaanbaatar, the capital of Mongolia. She has been running her store successfully since 2008. Now she needs to increase the income from her business because the rental fee of her store/house was increased notably in the last month. Therefore she decided to increase her working capital to purchase groceries to expand her sales volume. She has a plan to open a second branch of her grocery store.
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.