Nasanjargal is 23 years old and lives with her 2-year-old, only daughter, in her wooden house in Ulaanbaatar (the capital of Mongolia). Her house is located in a boundary area of the city, with no running water, minimal roads, and spotty electricity. Her daughter goes to the kindergarten. And her relatives who are students help her to look after the child.
After she graduated from secondary school, Nasanjargal had started to work as a shop assistant at another person's counter, while her peers were studying at universities. Since 2010 she has been renting her own, ready-made-clothing counter, at a market in the eastern part of the city. She usually sells women's clothes. Every month she goes alone by train to the nearest border with China, to purchase her goods.
Now before the winter she has planned to purchase more types of winter clothes. Also she has planned to rent an additional counter, in order to increase her sales points. By doing this she can increase her income and sell her goods at two points, at the same time. Nasanjargal is asking for a 3,300,000 MNT loan to increase her working capital (buying winter inventory) and to rent a new counter in a west-side market of the city.
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.