Perenlei, 26 years old, is a taxi driver, and he has been operating his business the past four years. He lives with his family in the ger district, an area of Mongolian traditional nomadic yurts and houses, in Ulaanbaatar, the capital city of Mongolia.
Since last year, he has been building a small house for his family. The work is 80% to 85% done, and he wants to buy some insulation materials for the walls. In winter, most Mongolian households use the coal stoves to stay warm at home. Using wood or other chemical fuels is unacceptable in Mongolia because of the harmful pollutants.
Insulating the walls is a good way to reduce the usage of coal fuel in Mongolia. So Perenlei decided to buy some building materials, such as the foam and cement, to make the walls insulated in his family house.
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.