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Mr. Davaa-Erdene, 29 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. The family resides in his house on a plot of land. He operates an internet café, provides origination service, sells CDs, and takes photographs. His wife also helps his business by working as a cashier at his internet café. In this business field, he has accumulated vast amount of experience and attracted quite a number of permanent customers. He is requesting a loan of 6,000,000 MNT to purchase an electric car, which will be beneficial to the cause of environmental protection. Electric cars contribute to cleaner air in cities because they produce no harmful pollution at the tailpipe from an onboard power source, such as particulates, volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. The family plans to use their automobile as a means of transporting computers and other materials used in their business.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,325 helped Davaa-Erdene to purchase an electric car.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 17, 2013
Jan 21, 2013
Currency Exchange Loss:
Feb 17, 2015