Tungalagtuya, 47 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She has been selling shoes to local people since 2004 and gets her goods from a China city near the border. Her husband is a craftsman and works at a souvenir shop. Their elder son just graduated from university and is looking for job. Her younger son studies at university and also helps with her business during the weekend. She is requesting a loan of 4,000,000 MNT to buy shoes in large quantity as the academic year is approaching. Then she can continue to sell her shoes without worrying about an inventory shortage. 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.