Mrs. Tserendavaa, 38, runs a cafe in the suburban district of Ulaanbaatar, the capital city of Mongolia. She opened her cafe in 2004 and already has her permanent customers who are well satisfied with the quality of her service. Tserendavaa is unmarried and lives with her two daughters in the ger district, a Mongolian traditional nomadic yurt district.
She always tries to expand her business with the income from her business. This time she decided to open two karaoke rooms beside her café shop. It is a very beneficial kind of business in the current Mongolian market conditions. At first, she needs to purchase the necessary equipment for the karaoke rooms. She will buy it from the certified distributor in Mongolia according her plan. The loan she is taking will be to purchase the necessary karaoke room equipment for starting multiple businesses.
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.