Mr. Bundan, 64 years old, lives with his wife and son in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. He was working at a military base until his retirement. Now he has the position of field utilization engineer at a building company. His wife has retired and receives a state pension. His son works as a general engineer at another building company. His work time is short, so he decided to grow vegetables as a food source and for sale. So he is applying for a loan of 6,000,000 MNT to buy necessary items, such as a shovel, pipe for watering, and seeds. Those materials are needed urgently, because the appropriate season for growing vegetables is here, and any delay will result in a poor harvest. Growing vegetables will contribute to the efforts against air pollution, because vegetables convert carbon dioxide into oxygen though a process called photosynthesis. The borrower is a disciplined and hard-working individual who wants to improve his life.
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.