Check out some available loans that are similar to this one!
Bold
Mr. Bold, 56, works as a manager in a mining company. He has been working in that company for two years. He lives with his wife, a librarian, and son in Ulaanbaatar, the capital city of Mongolia. His son is a student and always wants to help his parents to increase their family earnings. Also he intends to cover his school tuition fees himself. Recently he decided to buy a car that uses natural gas for running a taxi. According to his plan, he will run his business on weekends and some nights when he has less homework. He believes that using a car which uses natural gas is a big contribution to decrease environmental and natural pollutions. His father, Bold, wants to help his son to start his business.

Although Mongolia has the lowest population density in the world, it is one of the most polluted countries in the world. This is due to the long and cold winters where temperatures frequently go below -40C (-40F) even in the cities. Also, in the summer, many parts of the country are extremely cold and are known to have snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from families just trying to stay warm. As well, the extremely toxic smoke from the cars is one of main reasons Mongolia has hard air pollution. In response to this, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss, improve heating systems and buy cars that run on the natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health. The loan he is taking will be used to cover the cost of buying his car which uses natural gas.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,333.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,775 helped Bold to cover the cost of buying a car which uses natural gas.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2012
Listed
Jun 25, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013