Mrs. Otgonjargal, forty-four, runs a grocery store in Darkhan, the second largest city in Mongolia. She lives with her parents-in-law and her husband and two children in her new house. Her husband plants vegetables in their backyard for their private use. She and her husband built a new house in 2010 and some decoration and building parts still have not been completed due to the lack of funding. Previously, they used to live in a ger, a Mongolian traditional nomadic tent. Usually a ger is cold and uncomfortable to live in for big families.
Otgonjargal needs a loan to buy a heated-floor rather than using one of the smoky and harmful coal furnaces. These cost too much, especially in winter time. Coal usage creates a lot of air pollution and is toxic to the air in the cities of Mongolia. In last several years, air pollution and air quality has become one of the biggest issues in most Mongolian households and big cities.
Otgonjargal is also planning to use some part of her loan to increase the groceries in her grocery store. This will expand her sales volume and increase her business earnings.
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.
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.