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Lkhagvaragchaa is 45 years old and lives with his family in Ulaanbaatar, capital city of Mongolia.

He has been selling casual clothes since 2012 by renting a stall at a trade center. He imports his goods from Europe, and sales are great because European goods are normally of high quality.

Lkhagvaragchaa is requesting a loan of 6,700,000 MNT to buy an electric car for transporting his goods. The advantage of an electric car is that it contributes to cleaner air in cities because it produces no harmful pollution such as particulates (soot), volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, and various oxides of nitrogen.

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.


About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,711.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,925 helped Lkhagvaragchaa to buy an electric car.
31% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Jan 30, 2014
Feb 11, 2014
Currency Exchange Loss: