Mrs. Narangerel, 41 years old, lives with her only son in Ulaanbaatar, the capital city of Mongolia. Her husband died in a road accident in 2002.
She has been selling grindstones to building companies for many years. She is requesting a loan of $3,000 USD to buy grindstones at a wholesale price so that she can continue to run her business without worrying about inventory shortage. This business is the only income source for her family.
The borrower is a very hardworking individual who wants to open great opportunities 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.