Mrs. Bulganjargal, 30, runs a grocery store in a supermarket. She started her business last year and has earned a decent profit. Currently it is a main income source for her family. His husband helps her to run their business.
She lives with her husband and her daughter in the ger district, an area of city with no running water, minimal roads and spotty electricity in Ulaanbaatar, the capital city of Mongolia. Actually she is an accountant, but still she has not been employed in a field related to her studies.
She is taking a loan to buy some groceries to increase the stock of her grocery store. In addition she has a plan to start a second business such as a beauty salon after her grocery business has stabilised.
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.