Nyamjav, 54 years old, lives with her husband and son in Ulaanbaatar, Mongolia's capital. She has earned a living by running a tailoring business for the last seven years. Before opening her own business, Nyamjav worked as a tailor in a private company where she accumulated vast experience. She makes Mongolian traditional dresses and is very proud of her products. Her husband earns a living by transporting heavy machinery.
In order to expand her business, Nyamjav needs an automobile which will help her deliver her goods. She is requesting a loan of 4,000,000 MNT to buy a car. This will allow her to earn more money and increase customer satisfaction because she will be able to deliver her products more quickly. She dreams of establishing her own tailoring factory in the future and believes that one day she will be paid back for all her hard work..
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.