Badarch, 36 years old, lives with her husband and three children in a Mongolian traditional ger (portable felt dwelling) on her father's land in Ulaanbaatar, the capital city of Mongolia. She has been working as a nurse in a hospital since 2011 and at the same time, during her day off, she studies toxicology at medical college. Her husband works as an automobile driver at a private firm. She is requesting a loan of 970,000 MNT to pay for tuition fees as she has currently no cash at her side. The investment in education has a high return as it will open the opportunities for higher salary, promotion in the workplace and respect from others.
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.