Querétaro, Mexico Transportation | Taxi
With this loan, NatGas staff, such as Andrea & Guadalupe (3rd and 4th picture), plan to convert 75 cars to natural gas. This loan will help NatGas convert drivers’ taxicabs at no upfront cost. Drivers will later repay with a portion of their savings from the cheaper cost of natural fuel — so the more they drive, the greater their savings and the sooner they pay back the costs of the conversion. NatGas aims to generate approximately USD 600,000 in fuel savings for drivers and reduce CO2 emissions by 2.6 tons — benefits that will continue to accrue to drivers long after the duration of the loan term.
NatGas is a Mexican social enterprise that was founded on the idea that public transportation could be powered in a cleaner, cheaper and more efficient way. Launched In 2013 by Josue (last picture), NatGas converts vehicles by equipping them with bi-fuel gasoline/natural gas engines. It also operates compressed natural gas fueling stations that mainly service public transport vehicles such as taxicabs and buses as well as private fleets. The company has 4 service stations providing natural gas for over 1,800 clients in the cities of Queretaro and San Luis Potosi. Its main customers are public transportation drivers, particularly taxicab drivers.
This loan was posted previously to Kiva, but did not fully fundraise so it’s been reposted for a smaller amount. Since it is post-disbursed, if it does not raise the funds, the borrower will not receive the loan.
About Adobe Capital:
Adobe Capital is an impact investment firm that focuses on supporting social and environmental businesses in the early stages of growth in Mexico. Adobe Capital was created to improve upon the work done by New Ventures Mexico, a non-profit founded by the World Resources Institute to accelerate the distribution of capital to social businesses in Mexico.
The organization provides 2 types of low-cost loans: revolving loans for working capital and capital expenditure loans. Revolving loans for working capital fund ongoing business needs such as inventory. Capital expenditure loans finance equipment necessary for business expansion.