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Adebiet
Adebiet S. is 36 years old and lives with his wife and four children in Bayan-Ulgii province in western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent home. His four children attend a local secondary school.


Adebiet operates a meat trading business in his town with the help of his wife. He started his business in 1998 and has since built a stable operation. After these many years of operation, he has gained much experience in his trade.


People usually prepare their meat for winter between December and March, and therefore during those months the price of meat falls. Adebiet plans to buy a large amount of horse and sheep meat at a cheap price and preserve those frozen meats to sell in the upcoming spring months when the price of such a product is very high.


So Abediet is requesting a 1,500,000 MNT loan to purchase a large amount of meat to sell this spring. In the future he hopes to have his own cellar that can contain a large amount of meat.

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,247.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Adebiet to purchase a large amount of meat.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 27, 2010
Listed
Jan 4, 2011
Currency Exchange Loss:
Possible
Ended:
Jun 24, 2011