Mr. Gombo-Erdene, 59, is a taxi driver and runs his business in Ulaanbaatar, the capital city of Mongolia. He has been operating his business for eight years nonstop.
Currently, this is the main source of income for his family. He lives with his family in the ger district, an area of Mongolian nomadic yurts and houses in the boundary of the city.
With this loan Mr. Gombo-Erdene wants to buy a car that uses natural gas, unlike his current one. Nowadays, air pollution (from cars as well as households with coal-fired stoves) is one of the biggest issues in Mongolian cities. The loan he is requesting will be dedicated to cover the cost of purchasing a new car that uses natural gas.
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.