Mrs. Narangerel, who is 25 years old, lives with her husband, sister-in-law, and brother-in-law in a house on a plot of land in Ulaanbaatar, capital city of Mongolia. She has been working as a saleswoman at a store for seven months. Her husband works as a sales manager at a private firm. Her brother-in-law has a position as a machinist at a power station.
She is requesting a loan of MNT 5,500,000 to buy an electric car.
The advantage of an electric car is that it contributes to cleaner air in cities because it produces 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. So buying this car is beneficial to air-pollution-intense Ulaanbaatar as well as to the borrower for transportation.
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.