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Habanbai
Habanbai is 38 years old, married, and lives with his wife and three children in his own house in Hovd province. His children all go to secondary school.

Habanbai has had an agriculture business since 2005. He has three hectares of his own land in Buyant soum where he runs a business planting and trading potatoes and other vegetables. He also has a storage pit with a capacity of 30 tons. He keeps vegetables there to sell. His standard of living is average and depends fully on his business. His family members' health is good. He is hardworking and chary. He says, "I am waiting for prices to go up because the vegetable price is very low now." He is requesting a loan of 3,000,000 MNT to purchase seeds and fertilizer.

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.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,372,575
    Funds lent in using Kiva
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Habanbai to purchase seeds and fertilizer.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 17, 2012
Listed
May 23, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013