Mrs. Ariungerel is 40 years old and lives with her three children in Kherlen, an eastern town of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on fenced land.
Her eldest child studied mechanical engineering at university and now stays at home, looking for job. Her second child studies at university and the other one stays at home.
She herself has been running an aquarium shop for two years and has attracted numerous customers to her business. She is requesting a loan of 2400000 MNT to purchase fish, feed, aquariums and filters for a new branch.
After opening her second aquarium shop, she can generate more income for her family and invest in her children's education. The borrower is a very hard-working individual, who is now carrying the entire family on her shoulders.
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.