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Gombo is 72 years old and lives with with his wife and two children in a ger, a traditional Mongolian nomadic home tent and fence in the Uvurhangai province of Mongolia. His one child attends university. His wife and son both help him with the business. He was an agronomy teacher until 1995 when he started his own business by growing vegetables. He has his own storage and 0.2 acres of land. His wife sells the vegetables in market in her own counter. He is a diligent and hardworking man who says "Man doesn't retire. Nowadays, people say they are retired and just simply stay at home." He is requesting 1,000,000 MNT to purchase more seeds.

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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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD