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Shinekhuu
Mr. Shinekhuu, 27 years old, lives with his wife and two children in Ulaanbaatar, the capital city of Mongolia. He has been rendering taxi service to local people since 2012. Before this, he used to sell second-hand mobile phones at a trade center. His wife is currently undertaking training in becoming a kindergarten teacher. Their elder child goes to elementary school, while the younger one stays at kindergarten.

Last year, he bought an electric car from his friend, and the due date is near, but he does not have enough cash for repayment. So, he is requesting a loan of 7,000,000 MNT (Mongolian tugriks) to pay the remaining fee of his electric car. The advantage of the electric car is that it wastes less fuel and emits harmless pollutants. Currently, this car is his family's main income generator.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,730.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,050 helped Shinekhuu to pay the remaining fee for his electric car.
28% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 13, 2014
Listed
Feb 15, 2014
Currency Exchange Loss:
Possible