Mrs. Davaa, 45 is a seamstress in a company which makes clothes. She has been working as a seamstress for over 20 years. She started her job at this company in 2003. During the past 20 years she had made very many kinds of outfits for sale. Davaa lives with her husband and her 2 children in the slum district of Ulaanbaatar, the capital city of Mongolia. She decided to run her own leather clothes shop beyond her job or on her days-off. It is important and beneficial to increase her family income for serving her family necessities in enough. Initially she needs to build her working capital and buy equipments such as a sewing machine for leather material. She is planning to purchase the new sewing machine which is made in Japan. It costs about MNT 1.500.000 in the market. Therefore she is taking a loan to purchase the sewing machine to start the new business beyond her job.
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.