Mrs. Munkhtsetseg is 47 years old, and lives with her husband and son in Ulaanbaatar, the capital city of Mongolia. They live in a rented flat. Her only son Davgaragchaa, 16, studies in secondary school. Munkhtsetseg used to work as a nurse in the hospital but lost her job due to job cuts in the late 90s.
She started running an office supply retail business at an outdoor market. She rents two separate stalls in the market and now she wants to extend her business by renting one more stall. She is one of our VIP clients and each time we do the loan assessment we see that her business is growing steadily. She employs two salespersons as well. The loan she is taking will be used to buy more stationery and office supply to sell at the third stall.
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.