Mr Baasandash's earnings are very variable - sometimes he can earn a lot of money and sometimes he has only a few customers. He has been operating his business for 11 years nonstop. His wife, Osorjin, 30, makes casual clothes at her home and sells them to her regular customers. She buys raw materials for her clothes from the markets in far away Ulaanbaatar, the capital city of Mongolia. To transport the materials to her home, she hires a driver, which is a large expense due to the costs of fuel and wages.
As a result, she and Baasandash haved decided to buy a car which runs on natural gas. They both know that using a gas-powered car is a progressive idea and important for saving the health of people and the environment. So they need about 3,500,000 Mongolian tugriks (MNT) to cover the costs of purchasing the car for the tailoring business.
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This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
About Credit MongolCredit 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.
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