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Amgalan
Amgalan, 33 years old, lives with his family in the Selenge province, located north in Mongolia. From November, 2011 to December, 2012 he has worked as an operator in coal mine. When the coal mine collapsed and stopped its operation, he began rendering taxi service to people who lives in Ulaanbaatar, capital city of Mongolia. The taxi he uses for service belongs to his friend. Also he is living temporarily in that friend’s home and he is feeling he is such a burden to his friend. His official residence belongs to Selenge province and now he is temporarily residing in his friend's house on plot of land.

So he is requesting a loan of 5300000 MNT to purchase an automobile which is powered by an electric motor. Electric cars contribute to cleaner airs because they produce no harmful pollution at the tailpipe from the on-board source of power, such as particulates, volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. By taking the loan he can purchase his electric car and can use it for taxi service without using his friend’s car. Most importantly the car he purchases will contribute greatly to the efforts against air pollution.

Additional Information

More information about this loan

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 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.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,825 helped Amgalan to purchase an electric car.
53% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 27, 2012
Listed
Jan 4, 2013
Currency Exchange Loss:
Possible