Mrs. Suvd-erdene, 30 years old, lives with her husband and four children in Ulaanbaatar, capital city of Mongolia. She has been running a business selling hand watering carts at an outdoor market. Her husband, a welder, makes the hand carts his wife sells. Usually people living in the ger district area, which has no water supply system, purchase these hand carts to transport water barrels.
Suvd-erdene's family lives in a traditional Mongolian ger (portable felt dwelling) and just began building their house. But due to a lack of finance, the house is not completed. She is requesting a loan of 2,000,000 MNT to purchase large amounts of iron and rubber. As a result, she can generate more income, which will be used to finish the house. The completed house will definitely provide the family with comfort and warmth.
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.