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Otgonjargal, 23, lives with his parents and three siblings in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house. His parents are retired from work. His sister, 43, works as a waitress in a restaurant, and his younger brother and sister both go to university and high school, respectively.

In April of 2012 he began working as an electrician. Because the place where he works is very far away from home and he picks up his younger brother from university, he needs a quality automobile. Therefore, he is requesting the loan of 6800000 MNT to buy a new automobile which is environmentally friendly. As a result, the family can spare invest money in a taxi service and generate more. Also, the car emits less smoke, which will contribute to efforts against air pollution.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,399.5
    Mongolia Tugriks (MNT) = $1 USD