Myagmarjav is 25 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian tent, in the ger district of the city, with no running water, minimal roads and spotty electricity.
Since 2004 Myagmarjav has operated a poultry farm. After years of successful operations, she has been able to purchase home furniture and a vehicle. But over the years, many people have taken up poultry-farming and her income has decreased.
She is asking for a loan of 4,000,000 MNT to build a food store. By doing this, her family income will increase. Her family is the most important thing to her and she says, “As a mother, I would like to be financially able to provide a good education and other necessary expenses for my children until they grow up." For this reason she wants start this new 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.