Myagmardorj is operating an internet and PC game cafe in the busy center of the city. He is 32 years old and lives with his wife and one-year-old son in a small rental apartment in Ulaanbaatar, the capital city of Mongolia.
He began his business in 2007 when he saw a great market opportunity, as many local young people were really getting into internet surfing and computer games. He is planning on expanding his business by adding more computers so that he can accommodate more customers.
Myagmardorj is requesting a 3,000,000 MNT loan in order to purchase replacement computer parts and upgrade his internet speed. In the future he wants to open more internet cafes.
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.