Duger is a 56-year-old woman. She lives in the town of Ulaanbaatar. To make a living, Duger owns and operates a jewelry business. Duger has been engaged in this business for over six years. Duger's jewelry stand is located in a jewelry store with about 15 other female vendors. Similar to the other sellers, Duger mostly sells silver earrings, necklaces and ring sets. She says that a lot of her inventory is imported from other countries, like Turkey, Thailand, and China.
Duger joined Credit Mongol LLC to gain access to financial services to help improve her living situation and ability to engage in business activities. She is requesting a loan of 2,500,000 tugrug. This loan, her third from Credit Mongol LLC, will be used to purchase new items to expand her product offerings. Duger plans to use the additional revenue generated from the business to improve and expand her jewelry 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.