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Sodnompil
Sodnompil is 45 years old, a married man, and lives with his wife and three children in a ger (Mongolian yurt) in Uvs province, Mongolia. His wife helps with his business, his older daughter is a university student and the other 3 children all go to school. He has 22 years of experience in the agricultural field. He has 14 hectares of his own land, which is located 15 km from Ulaangom soum, where he runs a business planting potatoes and other vegetables. Also he has 1 hectare of land near his house. He plants a variety of vegetables and organic fruits, such as sea-buckthorn and blackberry. He is a sharp and hardworking man who says, "It is hard to support college students. However, I'll do whatever I can in order to get my children educated." He is requesting 3,500,000 MNT to build a fence around the land and to purchase organic seeds to plant vegetables.

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

  • $2,175
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Sodnompil to build a fence around the land and to purchase organic seeds.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 8, 2012
Listed
May 27, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2012