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Gundtsamba, 41, lives with his wife and four children in a ger (or traditional Mongolian yurt) in Uvurhangai province, Mongolia. His older daughter is a college student, two of his children are secondary school students and his youngest child stays at home. Gundtsamba started a shoe-production business in 2005, and makes traditional shoes with his wife. He also raises livestock, and has a herd of 100 animals which produce organic dairy products, including a good deal of organic milk (or koumiss) that he sells in the summer. He feeds his livestock in countryside and brings his organic dairy products to Uvurhangai province to sell. He wants to expand his dairy business by buying a cow. He explains why with these words: "Our children will soon start college. I have to save enough money for their tuition." Gundtsamba is good-natured man and is requesting a loan for 1,300,000 MNT to pay for the cow.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Gundtsamba to expand an organic dairy products business by buying a cow.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 4, 2012
Jun 14, 2012
Currency Exchange Loss:
Jun 17, 2013