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Sumkhuu
Sumkhuu, 23 years old, lives with his wife and son in a house on fenced land in Ulaanbaatar, the capital city of Mongolia. He has been running a grocery store since 2012. His wife stays at home, looking after their little son. He has recently bought an electric car and paid only half of the price. So he is requesting a loan of 3,000,000 MNT to pay the remaining part of the price of the car. The advantage of an electric car is that it contributes to cleaner air because it emits harmless pollutants and wastes less fuel. The car will be used by him for a taxi service as his wife will eventually take care of the grocery store after years.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,705.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,775 helped Sumkhuu to pay the remaining part of the price of the car he just bought.
49% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2013
Listed
Dec 13, 2013
Currency Exchange Loss:
Possible