Mrs. Serjmaa, 40 years old, lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling) on a plot of land. She sells homemade foods to vendors at an outdoor market. Moreover, she and her husband make wooden products such as frames, doors and chairs.
During this period of time, demand for wooden products increases, but due to a lack of finances, she can't afford to purchase raw materials. So she is requesting a loan of 2,000,000 MNT (Mongolian tugriks) to purchase planks and paints. As a result, she and her husband can continue to make and sell wooden products to local people. 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.