Odgerel, 45, is the mother of two children, and lives with her family in a ger (the traditional Mongolian nomadic tent). Her daughters, aged 18 and 17, are university students. She and her husband sell Japanese car parts at a local market. Her husband is an invalid but he is always helping his wife with the business. Odgerel started her business in 2005 with a working capital of 1,000,000 MNT and she has managed to increase it since then. They purchase their products once or twice a month. Since she started this business, Odgerel has been providing money for her family’s expenses and paying her children’s education fees. She is an open person who has very good communication skills. She says, “The most important thing to me is to provide a good education for my children." She is requesting a 3,800,000 MNT loan to purchase more spare parts for her 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.