Mr. Elbegdorj, 46, earns a living by driving a taxi in Ulaanbaatar, the capital city of Mongolia. He started his business two years ago with his old car and serves about 13-16 people a day. This is his family's main source of income. He lives with his wife and children in the ger district, an area of city with no running water, minimal roads and spotty electricity. The roof of his house is in bad condition and has been damaged for a long time. He has repaired it many times, but unfortunately it is broken again. In the winter, there is too much heat loss through the bad roof. He uses a coal-fired furnace to get his house warm and keep it that way. But coal-fired furnaces are one of the main reasons for air pollution in Mongolian cities and all around the world. He has decided to replace his roof and is applying for this loan to make that repair possible.
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.