Mr. Baljinnyam, 26 years old, lives with his family in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (a portable, felt dwelling) on fenced land. His wife has recently taken her maternity leave and now stays at home. Before maternity leave, his wife worked as a geologist at the same company where Baljinnyam works. He also is a professional geologist and has been working for two consecutive years.
The family needs an automobile for their daily transportation. So, he is requesting a loan of 3,000,000 MNT, which he will use to purchase an automobile that runs on natural gas. The advantages of a natural gas vehicle are: its emissions are cleaner, with lower amounts of carbon and lower particulates per equivalent distance traveled. Also it wastes fuel less, compared to a of gasoline- or diesel-powered vehicle. Purchasing a natural gas vehicle is environmentally friendly and economically efficient for the borrower. The borrower is a very hard-working individual, who strives for a better future.
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.