Mrs. Battsetseg is 48 years old and she lives with her husband and her two children in a Mongolian boundary town. She runs a grocery store in another town with her husband. She has been running her business for eight years and before that, her store used to run in her backyard. But she moved it in 2010 to another more crowded place in order to increase her customer base.
Lately her store has a low profit and low sales volume due to her groceries. Recently she funded her son’s starting up a new business from her store business. Now her son has successfully started up his business of auto spare parts sales. The loan she is taking will be dedicated to buying groceries for 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.