Check out some available loans that are similar to this one!
Gombo

Update on Gombo

Gombo, 73, lives with his wife in Uvurhangai province, Mongolia. His wife helps in her husband's business. He has had 16 years of experience growing vegetables and trading them. Gombo graduated from an agricultural university as an agronomist in 1961. He keeps the vegetables in underground storage, which has 30 tons of capacity. His wife sells the vegetables at the shop counter. In the winter time, he plants vegetables in the greenhouse. He has been running the business activities successfully, improving his livelihood level significantly. Gombo is a hardworking and very active man who says that "I would like to develop the business activities by purchasing some extra seed so that I could increase the volume." He is requesting 1,200,000 MNT to buy organic fertilizer and potato seed.

Previous Loan Details

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 ... More from Gombo's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,343,850
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Gombo to buy organic fertilizer and potato seed.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 24, 2012
Listed
May 15, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2012
This photo was used before for a previous loan for Gombo. It was first posted on Kiva on Nov, 2011. Learn More