Mrs. Khishigsuren, 35, runs a bakery shop in Ulaanbaatar, the capital city of Mongolia. Her cakes and baked goods are delivered to the grocery stories and shopping malls in the city. She has been operating her business since 2007 and initially started it with just two staff members. She lives with her husband and her three children in the ger district – a boundary district with Mongolian traditional yurts and cheap houses.
With this loan, she wants to buy organic fertilizers for growing vegetables. Her parents live in another ger district and they plant vegetables in their land plot. Before the end of September, her parents want to fertilize their planted vegetables and it is very important to have a good harvest in autumn. The loan she is taking out will be used to pay for organic fertilizers from the market.
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.