Mrs. Adyanaran is a 45 years old widow, lives with her three children in Ulaanbaatar, the capital city of Mongolia. The eldest daughter studies in local University and two other boys study in secondary school. She owns a small plot of land and wooden family house. She has been running a timber and wood product sales business on local wood market for 13 years. Before she used to run this business together with her husband and when he passed away she started to run it on her own. She buys a timber from wholesalers and makes a plank using a saw machine. This time of the year price of timber materials goes down and it is time when they usually stock up timber materials and sells them in April when building season starts. The reason she is requesting a loan is she wants to stock up enough timber and wood materials and to resale it when building season starts in April.
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.