Ivshinkhorol, 46 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. Their daughter has just graduated from university and is now looking for a job. Their son is a third year student at university.
She and her husband make and sell furniture to local people at the outdoor market. Ivschinkhorol is requesting a loan of 4,000,000 MNT to buy equipment such as a circular saw, a power drill and a tape measure for their business. As their current equipment has become outdated and worn out, it is necessary to get some good new equipment in order to maintain their product quality level.
The borrower is a very hardworking individual who is striving 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.