Mrs. Erdenetuya, 42, is a program developer for an NGO (non-government organization). She has had this job for two years and her husband works as a blacksmith. She and her husband live with their three children in a rental apartment in Darkhan, the second largest city in Mongolia. In addition to her work at an NGO, early each morning she sells milk outside of her apartment building. She buys the milk from herders the day before she sells it and keeps it in a freezer in her home. Lately, her freezer has begun to break down so she is applying for this loan to buy a new one because she needs it to run her second business.
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.