Mr. Borolzoibaatar is 24 years old and lives with his wife in Ulaanbaatar, the capital city of Mongolia. His son lives with his mother-in-law in the countryside far from Ulaanbaatar. He and his wife have been running an internet cafe for two years and have accumulated a vast amount of experience in this field. In addition to the internet cafe, they also rent billiard tables to people by the hour. Before helping him, his wife worked as a beauty stylist at salon. The personal computers he uses for his business have deteriorated over the years and need some updating. So he is requesting a loan of 3,200,000 MNT to purchase necessary equipment from China. As a result, he can continue to run his internet cafe without worrying about losing his customers due to poor computer service. The borrower is a very hardworking individual who strives for a better future.
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.