Erdenechimeg, 36 years old, lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house. Her husband works as a driver in a private company. Her elder son, 17 years old, studies in college while her second son goes to secondary school. The youngest son, 2 years old, remains at home.
Since 2006, Erdenechimeg has been running a handicraft business. Its income greatly contributed to the living condition of the family, enabling them to buy furniture and other assets. The handicraft business involves the manufacture and scissoring of felt boots. The demand for felt boots is higher than for normal boots and meeting the demand is very hard for Erdenechimeg because she has no access to a sewing machine.
So, she is requesting a loan of 2000000 MNT to purchase a sewing machine and raw materials. As a result, she can produce and scissor more felt boots, increasing her income, which will be used for her children’s future education.
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.