Mrs. Odgerel, 28 years old, lives with her husband and five-year-old daughter in Darkhan, second largest city of Mongolia. The family has been residing in a rental apartment for two years. Her five-year-old daughter is being educated at kindergarten. Her husband has been holding a position of measuring millwright in the department of measuring of electricity, distributing station, for three years. She herself works as a hairdresser at a beauty salon.
Her younger sister and she have decided to rent and operate a hotel in Ulaanbaatar. So she is requesting a loan of 1,600,000 MNT to pay two months rent fee for hotel operation. As a result, she can generate additional income for her family and invest in her daughter’s education. The borrower is a very hardworking individual who strives for a better future.
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.