Mr Badamnyambuu, who is 50 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. He has been working at a furniture-manufacturing plant for five years. His son works in a Korean gas company. He is requesting a loan of 3,500,000 MNT to purchase an automobile which is propelled by an electric motor. One of the reasons of choosing an electric car is that it produces no harmful pollution at the tailpipe from the onboard source of power, such as particulates, volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. The electric car he is purchasing will be used by his son for transportation due to the long distance between his work and their home.
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.