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Nyamsuren is a 44 year old man who lives with his wife and 5 children in a ger (mongolian yurt) in Uvs Province, Mongolia. His oldest son is disabled. The other four children are secondary school students.

Nyamsuren has run an agriculture business since 2006. His wife helps with his business. He owns 6 acres of hayfield. Every year, he cuts 35 tons of grass to sell. Nyamsuren is a hard working and open minded man. He needs to expand his business to support his family. Therefore, he would like to plant organic potatoes in 1 acre of the land he owns to expand his business.

Nyamsuren is requesting 2,500,000 MNT to buy organic potato seeds at wholesale prices and parts for a tractor, which will be used to plant potato seeds. He says: "My children soon will start college, I have to be ready for their college tuition. I want to expand my business and generate more income to support my family."

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
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Nyamsuren to buy organic potato seeds at wholesale prices and parts for a tractor, which will be used to plant potato seeds.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jun 6, 2012
Jun 15, 2012
Currency Exchange Loss:
Feb 15, 2013