Mr. Gantsogt, 25 years old, lives with his girl friend in Ulaanbaatar, the capital city of Mongolia. The couple lives separately from their parents in a traditional Mongolian ger (portable felt dwelling). His father has been driving a bus around the city since 2011.
Gantsogt has been working as a steward at a business entity since 2009. He is requesting a loan of 5,000,000 MNT to purchase an automobile which runs on natural gas. The advantages of a natural gas vehicle are its emissions are cleaner, with lower emissions of carbon and lower particulate emissions per equivalent distance traveled. Also it wastes fuel less compared to that of a gasoline or diesel-powered vehicle. Purchasing a natural gas vehicle is environmentally friendly, and economically efficient for the borrower.
The borrower is very hardworking young adult who wants to improve his family’s living standard.
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.