Mrs. Chimedtsogzol, 46 years-old, sells auto goods and spare-parts in the market. She has been running her business since 2003, and already has many customers. She lives with her family in a ger, a traditonal Mongolian nomadic tent in Ulaanbaatar, the capital city of Mongolia.
Mrs. Chimedtsogzol wants to expand her business and develop it further. She needs to increase her working capital first as it will expand the sales volume of her business. The loan will be used to purchase a large quantity of sales goods to increase working capital.
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.