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Narangerel is a 51-year-old married man and lives with his wife and two children in a ger (Mongolian yurt) in Darhan province, Mongolia. His wife helps with his business and his children are college students. He has had a farm since 2007. Now he owns a chicken farm and four greenhouses where he plants cucumbers. Also he makes pickles from cucumbers. His plants and chickens are all organic; therefore, he is a trusted supplier for many. However, he needs a new watering system for his greenhouses. He is a sharp and hardworking man who is requesting 3,900,000 MNT to buy a watering system for his greenhouses.

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
  • 12
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,975 helped Narangerel to buy a watering system for his greenhouses.
100% repaid
Repayment Term
40 months (Additional Information)
Repayment Schedule
May 19, 2012
May 27, 2012
Currency Exchange Loss:
Sep 15, 2012