Mr. Shinedavaa, 68 years old, lives with his wife in Ulaanbaatar, the capital city of Mongolia. His son lives separately from his parents. He and his wife have retired from their respective work and get state pensions. His income consists of his pension and rental fees. The building company which operates nearby his house pays the rental fee to him because that part of land belongs to him. His son makes his living from a sales business.
He is requesting a loan of 3,000,000 MNT (Mongolian tugriks) to purchase an electric car. Electric cars contribute to cleaner air in cities because they produce no harmful pollution at the tailpipe from the onboard source of power, such as particulates (soot), volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen. His main purpose for purchasing an electric car is to render taxi services to local people as an additional income source because his family needs aren't met with their income. The borrower is a very hardworking 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.