Bolormaa is a 34-year-old married woman who lives with her husband in Ulaanbaatar, the capital of Mongolia. They live in a ger, the traditional Mongolian nomadic tent on her sister’s plot of land, which is near her business place. They don’t have any kids yet. Bolormaa operates a grocery store, selling items like meat and vegetables. She has been running this business for over three years and has a loyal customer base. Her husband helps her in the business and this is the only income for the family. She is planning to purchase her own plot of land and a wooden house with her savings.
Bolormaa is requesting a 1,000,000 MNT loan to purchase cheaper meat and vegetables to sell for a profit.
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.