Mrs. Uyanga, 30 years old, lives with her husband in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Her brother is raising her son at his home because she and her current husband have married recently and work day and night. She has been running mobile phone sales since 2005 and accumulated a vast amount of experience in this field of service. Her husband renders taxi service to local people by using his own automobile and during his free time, he helps her phone sales business. She is requesting a loan of 4,000,000 MNT to order a large quantity of mobile phones from Korea. Because only now, an opportunity has arisen for her to supply mobile phones to retail stalls which purchase phones at wholesale prices and sell them at retail prices. If she uses this opportunity of supply, she can generate more income for her family and can invest in her son’s future education. The borrower is a very hardworking individual who works day and night in order to create a bright future for her son.
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.