Myagmar is 58 years old and lives with his younger son in the ger district, an area of the city with no running water, minimal roads, and spotty electricity, in Ulaanbaatar, the capital city of Mongolia. He has been operating a manufacturing business, making double-glazed windows, with his son in their home province since 2007. In 2010, he built a house for the business. As you know, Mongolia is one of the coldest countries in the world and borders with Siberia to the north. His businessplace is cold and not comfortable. With the loan, he wants to thicken the walls of his businessplace with materials like cement, brick, and glass-wool to stop heat loss; to do interior decoration with energy-saving materials; and to install a low-pressure furnace that releases less harmful chemicals into the atmosphere in order to save the environment. This loan will also be used to install a bio-toilet on the plot of land.
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.
A loan of $3,600 helped Myagmar to thicken the walls of his business place with materials like cement, brick, and glass-wool to stop heat loss; to do interior decoration with energy-saving materials; and to install a bio-toilet on the plot of land.