Funded

Total loan: $3,775
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Bold


A loan of $3,775 helped to cover the cost of buying a car which uses natural gas.


Bold's story

Mr. Bold, 56, works as a manager in a mining company. He has been working in that company for two years. He lives with his wife, a librarian, and son in Ulaanbaatar, the capital city of Mongolia. His son is a student and always wants to help his parents to increase their family earnings. Also he intends to cover his school tuition fees himself. Recently he decided to buy a car that uses natural gas for running a taxi. According to his plan, he will run his business on weekends and some nights when he has less homework. He believes that using a car which uses natural gas is a big contribution to decrease environmental and natural pollutions. His father, Bold, wants to help his son to start his business.

Although Mongolia has the lowest population density in the world, it is one of the most polluted countries in the world. This is due to the long and cold winters where temperatures frequently go below -40C (-40F) even in the cities. Also, in the summer, many parts of the country are extremely cold and are known to have snow storms. Both homes and nomadic tents burn a lot of fuel and emit huge amounts of pollution every night from families just trying to stay warm. As well, the extremely toxic smoke from the cars is one of main reasons Mongolia has hard air pollution. In response to this, Credit Mongol offers Green Loans to their clients to make home improvements that reduce heat loss, improve heating systems and buy cars that run on the natural gas. We believe that together we can decrease pollution and the harmful effects it has on the environment and Mongolians' health. The loan he is taking will be used to cover the cost of buying his car which uses natural gas.



Loan details

Loan length:

14 months
Disbursed date: June 19, 2012

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: June 19, 2012