Mrs. Tsetsegmaa, 61, is a widow and lives with her daughter in a ger (a traditional Mongolian nomadic tent) located in the slum district of Ulaanbaatar, the capital city of Mongolia.
Since 1998 she has been running a business selling second hand shoes which have been imported from developed countries, and she has gained a lot of experience from it. She is a construction cost planner by profession, but she could not keep her work place due to illness. Now she rents a stall at Kharkhorin, the most crowded outdoor market in Ulaanbaatar city. Her daughter is a student at College, and Tsetsegmaa has to pay her annual fees and provides her with basic daily expenses.
Tsetsegmaa buys her shoes from wholesalers who import them from abroad, and then cleans and fixes them and sells to customers. Since her daughter became a student she has started facing difficulties running her business due to lack of funds. Therefore she is requesting a loan to raise her income by increasing her working capital and selling more shoes to her customers.
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.