Mrs. Munkhtsetseg, 37, is a teacher. She has been teaching for seven years. She lives with her husband and daughters in Kherlen, a boundary town of western Mongolia. Her husband works as a fireman and often has a high workload, but his income is not so good. Munkhtsetseg’s monthly salary also does not meet her family expenses, and as such they always face a lack of money. Due to this she and her husband decided to start a new business, a taxi service, to increase the family's income. Now she needs over 3,000,000 Mongolian Tugriks (MNT) to cover the cost of purchasing a new car to start the taxi business.
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.