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Chinbat
Mrs. Chinbat, 49 years old, lives with her family in Erdenet, the third largest city of Mongolia. She has been working as a conversion machinist at an enrichment facility for 21 years. Her elder son is a weaver and works at a carpet factory. She is requesting a loan of 7,700,000 MNT to buy an automobile that runs on electricity. The advantage of an electric car is that it contributes to cleaner air in cities because it produces no harmful pollution from 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. The car will be driven by her younger son who is unemployed and wants to render taxi service using the car.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,602.6
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,825 helped Chinbat to buy an electric car.
50% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Oct 2, 2013
Currency Exchange Loss:
Possible