Tsogsuren, 47, is a driver who carries passengers between cities in Mongolia. He started his business in 2010 and has a lot of permanent customers. He can carry a maximum of four passengers at one time, and each passenger pays him $8.
He lives with his wife in the ger district (a ger is a traditional Mongolian nomadic yurt) in Ulaanbaatar, the capital city of Mongolia. All of his children have moved out of the house already.
Tsogsuren owns an old car that runs on gasoline, but it uses too much petrol and emits toxic smoke into the air. Most spare parts for it have been bad and out of date. So he decided to replace his car with a better one that uses natural gas. He thinks that using natural gas is healthier and will help the environment. Also he believes he is doing it for his descendants and their future. Now he needs some money to cover the remaining cost of purchasing a natural-gas-engine car.
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.