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Mr. Davaasuren, 23 years old, lives with his wife in their own house on a plot of land in Ulaanbaatar, the capital city of Mongolia. He and his wife have been running a mobile-phone sales business for four consecutive years, and usually get their goods from Koreans or wholesalers. The income from the mobile-phone sales is not sustaining the family's expenses, and recently, he decided to begin rendering taxi service to the local people.

He is requesting a loan of 7,000,000 MNT (Mongolian tugriks) to purchase an electric car. Electric cars contribute to cleaner air in cities because they produce no harmful pollution from the tailpipe from the on-board source of power, such as particulates (soot), volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead and various oxides of nitrogen. Purchasing this electric car will help him to generate more income from the taxi service as well as contribute to the efforts against air pollution. The borrower is a very hardworking individual who strives for a better future.

Additional Information

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.

About Mongolia

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,925 helped Davaasuren to purchase an electric car.
65% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
May 16, 2013
May 21, 2013
Currency Exchange Loss: