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Gombo
Gombo is a very hard working person who is good at what he does. He lives with his wife and two university student children and who all help him with his vegetable planting and harvesting business. He started his business in 1995 with the help of his family. At the beginning they planted only small amounts of vegetables because of storage difficulties but as their business grew, they bought storage space to preserve the harvested vegetables. They plant all kinds of vegetables including potatoes, carrots and cabbage. Now they store approximately 40 tons of vegetables a year. After harvesting, they sell on the market for reasonable prices. In the future, he has a great desire to expand his planting area and produce quality vegetables that are good for people's health. This business is quite successful in the community. He is requesting a 2,500,000 tugrug (~1750 USD) loan in order to buy new machinery and to build an irrigation system which will make their business easier to manage.

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,411.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Gombo to buy machinery and an irrigation system.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 25, 2009
Listed
Sep 15, 2009
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2010