Mrs. Rina, 41, is a cook and works in the cafeteria in Ulaanbaatar, the capital city of Mongolia. She has been doing her job for two years. Before she used to work in the restaurant as a chef. She lives with her husband and her daughter in the ger district, an area of the city with no running water, minimal roads and spotty electricity. Her husband is a driver, and he is now unemployed. Therefore, he wanted start a new business such as a taxi business, as he said it will be a big contribution for his family to increase their income further. He and Rina planned to buy a car that has an electric engine, which is called a Toyota for their new business. It will not create any toxic smoke to the air. The loan she is requesting will be used to cover the cost of a electric car for her husband starting a taxi business.
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.