Gereltuya, 38 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. Her husband makes Mongolian traditional gers (nomadic tent homes) made with felts for generating income. Also he makes chairs and dishes during the winter period. Her elder daughter studies at the medical university in Irkutsk, a Russian city. Her younger daughter is in second grade at elementary school.
In 2004, she began running her cafeteria business. In 2009, she rented the high school café and began her business there. For eight years she has worked as a cook and accumulated a large amount of experience.
Now is the time when prices of meat are at their lowest, and she wants to purchase a large quantity to sell later at higher prices. Also, the car the family uses has deteriorated over the years and needs some serious repair. So she is requesting a loan of 2,500,000 MNT to purchase meat and equipment. As a result, the family can generate more income and can invest in their children’s 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.