Mrs. Erdenetuul is 54 years old and lives with her husband and a 23-year-old son in a rented apartment in Ulaanbaatar, the capital city of Mongolia. For the last 10 years she has been renting a supermarket. Her son is a student and will graduate in coming spring. Two years ago her husband had a stroke and as a result, half of his body was paralyzed. Erdenetuul constantly cares for her husband while managing her supermarket. Since last spring, her husband has gotten better and can walk, speak, and do things on his own due to extensive medical treatment.
By having a chance to spend more time for her business, she is planning to increase her working capital and put all her efforts to her business to develop and to catch up with what she lost during the last 2 years. The loan Erdenetuul is taking will be used to diversify the range of goods, quantity and increase her family income. By doing this her family will be provided with a good living condition. In future she is planning to have own private house.
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.