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Mr. Bayarbold, 28 years old, lives with his wife and son in Ulaanbaatar, capital city of Mongolia. He has been driving a minivan for public transportation since 2012. His wife helps him by collecting fees. Due to their financial difficulties, they are working very hard, and once living standard improves, they plan on having a baby. He is requesting a loan of 3,000,000 MNT to buy an electric car. The advantage of an electric car is that it emits harmless pollutants and wastes less fuel compared to other engines. The electric car will be used by the borrower for transportation purposes. It will generate more income than the minivan does.

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
  • 1,844.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,650 helped Bayarbold to buy electric car.
37% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 4, 2014
Aug 1, 2014
Currency Exchange Loss: