Khenmedekh, 35 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. From 2006 to 2010, Khenmedekh sold construction materials and, in 2010, she stopped her construction material business and began selling clothes. Her husband works as a transporter and helps her business.
Khenmedekh is requesting the loan of 1,000,000 MNT to purchase clothes for inventory turnover. She purchases her goods from China on wholesale price and sells here on retail price. The gap between prices becomes her profit. As a result, the family can expand her business and generate more income thus opening opportunities for investment in their children’s education.
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.